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Fed’s Dudley: Modest wage growth reflects sluggish productivity

William C. Dudley, the president of Federal Reserve Bank of New York and vice-chairman of the Federal Open Market Committee, is crossing the wires, with the key quotes, via LiveSquawk, found below: Expects further labor market strengthening, moderate economic growth Modest wage growth reflects sluggish productivity

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USD/CAD drops below 1.27 on oil rally

After spending the majority of the day trading in a narrow range above the 1.27 handle, the USD/CAD pair came under a renewed pressure in the early NA session and refreshed its daily low at 1.2673. As of writing, the pair was trading at 1.2767,