People are coming to the realization there is a very high likelihood that the BOJ next week are going to stop quantitative easing or begin to unwind it, and there is a lot of market focus on Japan CPI data later this week.
More Quotes from Andrew Busch:
The yield differential continues to favor the U.S. dollar.Andrew Busch
In general if you see oil, gas natural gas and gold all selling off you know the Canadian dollar is probably not far behind.
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The dollar is under pressure. This started early in the Far East, with news of South Korea's plan to change reserve ratios.
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The market is disappointed the ECB is not doing more on the interest rate front to support its currency.
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Today's jobs number would support the idea of a soft landing, or at least moderation in growth.
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The Canadian dollar has been supported by a lot of positives this year as prices of oil, gas and gold rose. Bank of Canada has raised rates that also boosted demand for the currency.
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