USD/CAD decline continues
It's big news when a central bank shifts gears.
That's what happened today as Bank of Canada senior deputy Wilkins said the BOC will consider reversing rate cuts made in 2015 on signs of economic improvement.
The market was slow to recognize the significance of the headlines at first but now USD/CAD is due nearly 1.5 cents and touched a low of 1.3322.
The latest push lower edges through the 200-day moving average. It's an especially important break because the last time the pair was here was on April 13 and that day it provided important support.
This drop now clears the way to a test of 1.3224, which was the April low.
