While the trade sees the resignation of the Canadian Finance Minister as a primarybearish force for the Canadian this morning, residual concern of credit turmoil in China, technical damage on thecharts and perhaps fear of a US Fed tapering move later today have added into the slide in the currency. We can’trule out a retest of the 89.10 spike low and perhaps even a slide to the January low of 88.85, as Canadian andUS data need to improve to begin to temper the negative North American currency view.
