Usd/Cad is striving to make headway above 1.2400 at the moment. We have had a couple of moves above the 1.24 level so far today one in the Asian session and then again first thing in Europe but offers at 1.2430 have kept a lid on matters so far. The market is split over whether the Bank of Canada will deliver a further 25 basis point cut at the top of the hour. If we can break above the 1.2430 level then 1.2485 will be the next target. While to the downside 1.2340 and then 1.2270 are your levels to watch