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USD/CAD has another look below 1.35 as GBP/CAD remains under pressure

Last week the USD/CAD had a few looks below the 1.35 handle. The follow-through from the better jobs numbers and the potential for the BOC to have to hike again has been a key driver for the immediate downside in the USD/CAD. The pair closed on Friday at 1.3525. It has had another look below 1.35 again this morning. The range seen so far has been covered by 1.3496 to 1.3534. The fall back below 1.35 this morning comes amid fresh downside for the GBP/CAD, which was also noted here last week too. Well, that is not far above 1.67 this morning, as it continues to probe the downside. The USD/CAD is tracking ever closer to its 200 day moving average support. That held the downside all last week and it is in place today at 1.3464. The USD/CAD is just now trading at 1.3507
 

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