First finish above the 200-dma since surprise rate hike talk
The Canadian dollar is the worst G10 performer this year and the news got worse with today's close above the 200-day moving average.
USD/CAD had flirted with the 200-dma for a few days but broke definitively higher today and (barring a dramatic turnaround in the next few minutes) will close above the level.
It's the first close above the 200-dma since June when the BOC began to talk about rate hikes.
Lately, there has been a string of weak economic data from Canada and a rise to the late-2017 highs of 1.29 is within reach. If could come quickly if there are any signs of trouble at this week's NAFTA talks.
