USD/CAD ignores the slide in oil
Given the backdrop in overall markets today, I wouldn't have expected to see USD/CAD hitting a fresh three-year low but here we are. The pair is down 30 pips to 1.2443 and touched 1.2439, which is just below Monday's low.
It speaks to the momentum in the pair and CAD overall. Oil has risen $1 from the lows but is down 55-cents to $64.83.
I'd be surprised if this breaks lower from here with the FOMC looming.
