Even hints that rate cuts aren’t off the table has failed to knock the Canadian back from itssharp gains forged on Tuesday. With BOC officials suggesting that the Canadian is historically high and a slightrisk off vibe toward physical commodities present this morning, we can’t rule out some back and fill weakness inthe Canadian. However, near term support is lacking because of the sharp run up yesterday and the Canadianmight also see some temporary pressure from the evidence of US tapering later today.
