Speaking at the World Economic Forum in Davos on the eve of Trump's arrival at the Swiss resort, Treasury Secretary Steven Mnuchin said the weaker dollar was positive for U.S. trade. As the U.S. dollar fell broadly, the Canadian dollar was up 0.74 of a cent at 81.04 cents US. Euro zone businesses kicked off 2018 in much better shape than anyone polled by Reuters expected, ramping up activity at the fastest rate since mid-2006, a survey showed. Investors were keenly awaiting the European Central Bank's meeting on Thursday for clues on the outlook for euro zone monetary policy. The euro may have more room to rise given the negative sentiment around the greenback, Trang said.

Source: CBC News January 24, 2018 15:22 UTC