USD/CAD hits fresh 14-month high as the oil drop finally breaks the spirit of the bears

USD/CAD had impressively held up
USD/CAD touched 1.3760 for the first time since February 2016 as oil took yet another leg lower.
Crude is now down $2.33 — nearly 5% — to $45.48. The latest 20-cent drop in oil finally helped USD/CAD break above the session high of 1.3745 and the weekly high of 1.3758.