The Canadian dollar is performing very strongly indeed. There’s a guy quoted on Bloomberg with his finger on the pulse of the USD/CAD, really worth paying attention to:
“After five days of gains in risk assets the dam has finally broken in dollar/CAD,” said Adam Button, a currency analyst at forexlive.com, by phone from Montreal. “The pair had been resistant against better news in the stock market and the European bond market for a number of days, but now with the rallies in oil and gold today the Canadian dollar can no longer overlook the obvious good news in risk assets.”
Canada Dollar Jumps Most in Four Months on Economic-Growth Signs
