CAD trading heavy today – BBH

Research Team at BBH, notes that the Canadian dollar is amongst the heaviest of the majors today. 

Key Quotes

“The US dollar continues to move higher against the Canadian dollar after yesterday's upside reversal after testing CAD1.30, spurred by Bank of Canada Governor acknowledging that the central bank did discuss more stimulus.  Although it did not act, the admission cast a dovish spin to the central bank's statement. The roughly balance risk assessment was an improvement to the downside bias previously, which had initially had driven the US dollar lower.   Nearby resistance is seen in the CAD1.3200-CAD1.3220 band.”