The US$ is weaker today on the back of Fridays weak economic numbers and the anticipated dovish comments expected from Wednesdays Federal Reserve meeting. Overall our bias is to be patient, US$ buyers look for opportunities to buy US$ on further dips as we expect US$ to continue to rally again longer term.
Canadian dollar remains under pressure despite a generally weaker US$, C$ remains under pressure from disappointing market data, lingering political concerns and oil prices edging lower. The potential for C$ to weaken and retest the low’s we saw in January remains in tact.
GBP touched a nine-month high after the Parliament voted out a no-deal Brexit and voted in favour of a motion to extend the March 19th deadline for Brexit. Euro has started the weak stronger primarily on the back of the weaker US$, short-term direction will be dominated by Brexit news and the Federal Reserve comments on Wednesday.