Carney: Intervention an option but it is rarely effective
Talk about defanging your own argument. Bank of Canada Governor Carney says intervention is a an option but that it is rarely effective. He says CAD strength partly reflects fundamentals and partly weakness on the part of the USD. The BOC believes in a floating exchange rate, he says.
USD/CAD is drifting in the upper end of the days range, now around 1.1340. 1.1365 was the high.

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