The Euro continued its correction higher from the lows seen yesterday morning and is currently trading at 1.1322 ( +.75%), after the panic from an election win by the left leaning Syriza party subsided. This was helped when the political leader of the party promised to keep Greece in the euro zone while he negotiates a write-down of Greek debt.   Reports that the Swiss national bank was in the market yesterday countering the Swiss francs ascent also helped the bid in the Euro currency. Continued commentary from Bank of England officials about the need to look through current inflation data has lent its hand to a strong bid in sterling (1.5189) despite slightly weaker 4th quarter GDP data. Durable Goods orders for the US which missed expectations ( -3.4% VS exp +0.6%)  also contributing to the USD weakness. The Canadian dollar has also benefited from the general USD weakness and a rebound in crude from the lows.

CAD Range 1.2416-1.25 currently 1.2416