There was a mystery bid in USD/CAD on Friday and it’s back today. One suspect is the options market, where some very large expiries are due at the top of the hour.
The closest one is at 1.1065 but there’s also a large expiry at 1.1170. Those are a ways from spot but in a thin market all the moves are exaggerated.
Others to watch are a EUR/USD cut at 1.3820 and AUD/USD at 0.9400.
