The better-than-expected job gains in ADP's report, while likely altered somewhat by Sandy-related distortions, trims the dollar's gains against the loonie and suggest the threat of the fiscal cliff--and the uncertainty it cast over the tax landscape--might not have dampened private-sector hiring. More clarity, of course, is awaited through Friday's government report. The US dollar is still slightly higher on the day at C$0.9853, versus C$0.9848 late Wednesday.
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