Sovereign seller in the Loonie…

Author: Pete Jackson | Category: Central Banks

USD/CAD’ s run into some central bank selling towards the recent high of  1.0187, but the sales appear to be well absorbed  and with Nymex oil prices  heading down almost $2 towards $83.00, further CAD weakness is likely.

Next point of resistance after recent year’s high is the Dec 21 high of 1.0212 and the Dec 1 high of 1.0251

Update: now hearing of offers 1.0200/10

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