New 5 1/2 year lows in fact as Brent continues its fall below $49 per barrel and WTI trades as low as $46.93

Next offers in place at 1.1930 and 1.1950

The pair has been reluctant to go up lately despite oil still looking soft and that’s encouraged some CAD/cross buying but the combo of USD demand and the latest tumble in prices of the black stuff has now finally forced it higher

Currently 1.1896 again after 1.1911 highs