The Canadian dollar took another nosedive on the comment. USD/CAD hit 1.1122.
He also noted few signs the Canadian economy is reacting to a lower currency and declined to speak on the level of CAD (as usual). The next level to watch is 1.1154, which was the March 12 high.
USDCAD hourly
Perhaps the better spot to watch in the short-term is CAD/JPY as it tests the Friday/Monday lows. Look for stops below
CADJPY daily
