USD/CAD touches 1.4100 for the first time in 4 years

On Friday afternoon, as the USD/JPY continued to crumble and eventually fall below the 154 handle, the USD/CAD continued to push higher. Consequently, the CAD/JPY slumped even more than the USD/JPY at that time. The CAD/JPY fell to 109.25, from an earlier high near 111.50. That fall was the catalyst for the USD/CAD to reach its highest level since May 2020. The USD/CAD peaked at 1.4106 right on the 4pm London fix. The US close was later set at 1.4090. The range seen so far today has been covered by 1.4070 to 1.4101. There is no Canadian economic data due out today, but tomorrow sees the last CPI report (October) and that is expected to show prices rising. If seen, this might help to reverse the current relapse in the Canadian currency. We shall have to see on that, when the data is released at 1.30pm GMT tomorrow. The USD/CAD is currently trading at 1.4093