The BOC Gravelle is back on the wires saying:
- We are raising rates gradually
- A 50 BP rise is a big move for a central bank
The USDCAD did extend to a new cycle high breaking above the highs for this week at 1.3020 and 1.30215. The high price could only reach 1.30545. The current price is back at 1.3028 currently.