USD/CAD at a two week high
The Canadian dollar is struggling ahead of the BOC decision with USD/CAD up 30 pips to 1.2417.
The 1.24 zone recently capped gains in the pair but it's been a choppy, risk averse day in FX with oil down 1.2%.
The big questions on the BOC:
- Size of the taper (down to $1B/week or to zero)
- Communication on hikes or transitory inflation
- Timing of the closure of the output gap