FXstreet.com (Córdoba) - The Canadian dollar weakened and retraced gains versus the dollar as BoC Governor Carney said that a rate hike is 'less imminent' amid moderate global growth outlook and household troubles. Carney was addressing the press after the BoC decided to keep policy unchanged on Tuesday.
USD/CAD jumped nearly 40 pips on the headlines, reaching a fresh daily high of 0.9954. USD/CAD is currently trading at the 0.9950 zone, up 0.3% on the day, having recovered from a low of 0.9887.
Immediate resistance for the cross is now seen at 0.9975, Oct 23 high, followed by 1.0000. On the downside, supports could be found at 0.9900, 0.9885 and 0.9860.
USD/CAD jumped nearly 40 pips on the headlines, reaching a fresh daily high of 0.9954. USD/CAD is currently trading at the 0.9950 zone, up 0.3% on the day, having recovered from a low of 0.9887.
Immediate resistance for the cross is now seen at 0.9975, Oct 23 high, followed by 1.0000. On the downside, supports could be found at 0.9900, 0.9885 and 0.9860.
