The loonie is again living up to its name, this time its lack of movement which is astounding people rather than the usual wild gyrations. I suspect that some of the bigger players have strategies in place which they are trying to defend. They are able to keep the market corralled in these relatively illiquid markets but when the moves come they will be big ones.
We have heard about the big stops reportedly below .9950 and I suspect that the topside has a similar story to tell, I’m just not sure what the relevant levels are there.
