Will the Bank of Canada cut rates by 0.50% later today- USD/CAD poised to react

On Monday the USD/CAD reached its best levels since August 6, when it touched 1.3850. Since then it has not made any further progress. An update here earlier this week noted the important interest rate decision from the Bank of Canada (BOC), which is now due later today, at 1.45pm GMT. As mentioned before, the markets expect the BOC to lower interest rates by 0.50% later today. The question now; is that priced in at the current levels? Well, it could be, but much might depend on the narrative delivered by the BOC, when they announce that decision. If they indicate more cuts to come, then it will help the USD/CAD lift further towards the high seen back on August 6, when it peaked at 1.3946. Of course, if the BOC only go 0.25% today, the USD/CAD will Surely fall back. If there is a fall that accompanies a 0.50% rate cut, then surely the markets will look to buy the dip in the US dollar? We shall see on that. The USD/CAD closed last night at 1.3818. The range seen so far today has been covered by 1.3816 to 1.3829. It is right now at 1.3820