Everything is going in favor of the Canadian dollar. After the BOC seemed quite calm about inflation and sent the loonie much higher, came the weekly inventory report from the US.
USD/CAD is already trading at 1.2385 after hitting low support at 1.2370. This is quite a significant fall from the highs of 1.2560 seen earlier – a full 200 pips range.
Read the rest of the article USD/CAD extends its falls on low rise in oil inventories