Canadian Dollar weakness appears to have stalled with the prospect of weaker US rates. We may see a test of February US$ lows which should provide an opportunity to buy US$ on dips.
Global FX markets appear calmer across the board, we anticipate markets to be remained range bound awaiting fresh data to direct direction. Our bias short term remains buying US$ on any dips.
In other news, GBP strengthened overnight on hints that a compromise is possible from Euro law makers. The next key vote is Wednesday.