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USD/CAD extends move above 1.3741

On Friday an update here noted how the combination of the better than forecast US payroll data and the expected rise in Canadian unemployment was delivering a move close to the recent highs seen in the USD/CAD, at 1.3741. That was the high seen on Wednesday after the Bank of Canada lowered their benchmark OCR to 4.75%. Well, eventually that 1.3741 level was taken out and the USD/CAD lifted towards 1.3775. The USD/CAD later closed in the US on Friday at 1.3764. It has just now lifted to a new interim high a moment ago at 1.3779 and further gains look possible in the short term, given the more general resurgence in the US currency since Friday.

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