The FOMC decision failed to shake the CAD out of its broad range.
But the CAD has shaken off yesterday’s late session wobble to regain the mid-1.35s this morning amid broader USD weakness and firmer stocks and commodities, Scotiabank’s Chief FX Strategist Shaun Osborne notes. CAD gains a cent from overnight low on the USD “Spreads, which have been widening in the USD’s favour, should perhaps steady at least. Note USD/CAD is trading a little below estimated fair value this morning.
His speech is titled ‘Monetary policy decision-making: behind the scenes’ but I doubt the comments will tell us much more than we already know.” “USD/CAD pushed higher through to the mid1.36s in early Asian trade before sliding a cent over the balance of the session. Minor gains from the European session low around 1.3540 are not yet strong enough to suggest that a base for the USD is developing.
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