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December 12, 2017
|December 12, 2017|
|The US Dollar drifted in a narrow range in subdued trading overnight as the US Federal Reserve geared up for today's start of a 2 day policy meeting. The Fed is widely expected to raise interest rates for the 5th time since late 2015 and the meetings will also provide Fed chairwoman Yellen's final policy statement. The English Pound was higher after data showed UK inflation unexpectedly hit its highest level in nearly 6 years in November. The hawkish inflation report sparked speculation that the Bank of England would need to raise rates again next year. The Canadian Dollar held in a narrow range ahead of Thursday's key speech by Bank of Canada Governor Poloz. Expected to be discussed are the growing uncertainties that could impact the Canadian economy, including the pending renegotiation of the North American Trade Agreement. US stock futures point to a higher open this morning. Producer Price data for November tops today's US economic calendar.|