Canadian inflation figures have come in a bit stronger than expected up 0.7% m/m for the headline rate in May and up 0.4% in the core measure. This still leaves y/y headline inflation at a meagre 0.1% y/y, but economists had expected a fall to -0.2%.
Usd/Cad was at 1.1330 as the numbers hit and moved down to 1.1310 in response before hitting easing back to 1.1320.
