The loonie lagged yesterday
Yesterday's underperformance in the loonie (it was the worst G10 performer) was a bit of a head-scratcher given higher commodity prices and records in equities.
Today it's making up some of the gap. With most of the FX market flat, USD/CAD is down 46 pips to 1.2496.
Yesterday's low of 1.2477 will need to give way to finally spark some momentum towards a retest of the March lows. That's a good spot to watch into the weekend.
