There's been corporate support for dollarCanada all the way down here. Model funds, momentum types, technical traders are still looking at buying the Canadian dollar even above 88 cents.
Quotes about dollarcanada (4 Quotes)
Usually Canadian data doesn't mean that much but we were so close to testing the previous (dollarCanada) lows that when we got better productivity numbers it gave the market a push.
Over the last couple of days we've tried to break past C1.1650 (85.83 U.S. cents) and we really haven't been able to do it, and I think what we're starting to see now is some profit-taking, not only on dollarCanada positions, but on cross positions.
We've had a bit of range-trading. I think traders have been a bit wary about taking positions on dollarCanada today.