The sharp slide in the Dollar is serving to lift the Canadian by default. While some of thegains might have come because of a rise in Canadian home prices, the more logical assumption is that the gainsin the Canadian are the result of the extreme oversold condition at last month’s lows. Some players are bargainhunting the Canadian, as slightly better Chinese views and stronger Euro zone growth figures suggests the worldeconomy is indeed getting better. Given the upside breakout in the March contract, the next upside target mightbe seen up at 92.00.
