Carney election victory looks too narrow to help the USD/CAD lower

The Canadian election took place yesterday and by all early accounts it looks like the Liberal party, led by the transitory leader, Mark Carney has won the most seats. However, according to those same reports it looks like he may fall short of the 172 seats required for an outright majority. That does remain to be seen though. Well, given that rather uncertain outcome yet to be confirmed, the price action in the USD/CAD has pretty much replicated that uncertainty. The USD/CAD closed in the US last night at 1.3830 and it fell back earlier to 1.3809. It has since rebounded to a session high at 1.3872, as the markets re-appraise the outlook of what that election result might mean going forward. The USD/CAD is right now at 1.3840