USD/CAD sold by real money; back below 200-day average

USD/CAD has by cycling in a range plus or minus about 3 cents around the 200-day moving average for the last few months. This morning we’ve broken back below the 200-day moving average, perhaps putting the 1.01 area back in play…

Traders report US real-money funds buying CAD, no doubt loading up on commodity stocks north of the border as risk sentiment improves. USD/CAD trades at 1.0385.