Fresh session lows in USD/CAD
Mike highlighted how option expiries played a big role in a USD/CAD spike on Friday and warned of a repeat today.
That seems to be coming to fruition with the pair sliding towards the $1.5B running off at the top of the hour. From a high of 1.2837, the pair has slid to 1.2775.
It's not just USD/CAD, there is some broad weakness in commodity currencies but the option are certainly part of the story.
Another factor that could be helping the Canadian dollar is a report ,citing a Mexican businessman, that NAFTA representatives are near a deal on telecom, energy and e-commerce.
