USD/CAD lower this morning ahead of the BOC policy decision later today

First to note there will be no updates here on the Bank of Canada (BOC) policy decision later today and that is due to technical reasons. There will be more to add on that a little later in a dedicated update. So, yesterday the USD/CAD did lift on the news that Canadian CPI had fallen back and below what the markets had expected. Well, the jump to 1.3916 was reversed, but not for long because it later pushed above 1.3950 and towards 1.3980 ahead of the US close. The reason for that was all about a re-think on the outlook for the BOC policy outcome today. Prior to yesterday the consensus was for the BOC to keep rates on hold, but some have now revised that call and so the outlook on the decision at 1.45pm GMT today is perhaps now more balanced, given the current situation. However, the USD/CAD has fallen back today and that is all about a more general fall in the US dollar. The USD/CAD closed in the US last night at 1.3956. The range seen so far today has been covered by 1.3924 to 1.3965. It is right now at 1.3933