CAD strengthened to a near-three-week high Wednesday, as a well-received bond auction in Italy lifted sentiment. The USD fell to C$1.0122–the lowest since Dec. 8–from C$1.0186 late Friday. Price moves likely weren’t reflective of investor sentiment, as volumes were thin and there is an absence of big economic data. With no major Canadian economic data due for the rest of the week, the currency is expected to trade in a tight range.
EasyForexNews Research Team