The dollar faded again in N.Y. trade on Wednesday, largely as Fed rate hike expectations continue to subside. There was little data on the calendar to drive the market, and for the time being at least, it appears the greenback's path of least resistance is to the downside. EUR-USD rallied to four week highs of 1.1410, coming from 1.1375 lows at the open, as USD-JPY fell into the 106.60 region. USD-CAD recovered from one-month lows of 1.2655, as short covering supported into Friday's Canada jobs report. Higher oil prices will likely limit upside going forward.
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