Now that that little wobble in currencies has finished I’ll get back to this post I started over 2 hours ago.
Our colonial Canadian colleagues have always been known as a laid back bunch and so our definition of temporary may be slightly different to theirs.
It’s pretty much the same in French too ;-)
Fortunately the bossman is the exception to the rule
I think the only question for the BOC is for them to decide how far they want to push “temporary”. Three quarters of a year soon becomes a year which soon becomes two etc etc. You’ve only got to look at the Bank of England to see that.
I’m getting the impression of heads in the sand here from the BOC and they’re facing a potential further problem if they start feeling the extra heat from US inflation rising.
So I remain convinced that this is not “temporary” but a taste of what’s to come in the US, UK, and sometime this century, the Eurozone.
All I need is a nice little run to 1.08 in USD/CAD to get on board with some shorts.
USD/CAD Daily chart 18 07 2014
