Questions about currency volatility, USD panic buying, and the Canadian dollar
Everyone is doing the only thing that works and that's buying US dollars. Some fresh swap lines Thursday have inspired a small reversal but nothing else is working so you have people piling in and the price action creates its own momentum. I'm newly hopeful for a bounce but direct central bank intervention is on the table. If that's the case, the safe haven flows are likely to shift into gold.
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