FXStreet (Delhi) – Research Team at BBH, notes that that the greenback has made new multi-year highs against the Canadian dollar (~CAD1.4270).
Key Quotes
“The continued drop in oil prices keeps it vulnerable, while the dismal business outlook, reported yesterday (with the weakest investment and employment plan since 2009) keeps many anticipating a rate cut. The implied yield on the March BA futures contract has fallen 10 bp in the past week to 70 bp and is at three-month lows. Some profit-taking was triggered late in the European morning. Look for buyers to reemerge in the $1.4150-CAD1.4170 area.”
(Market News Provided by FXstreet)