Sellers push USDCAD lower; support zone at 1.41922-1.4204 tested
USDCAD fell 0.48% as sellers regained control, testing support at 1.41922-1.4204 after failing to sustain a breakout above yearly highs.
The US dollar rose after Fed Chair Warsh's hawkish remarks; market sees 46% chance of September rate hike.
The US dollar moved higher as Federal Reserve Chair Warsh delivered more hawkish remarks. He remained reluctant to offer forward guidance, but the market now prices around a 46% chance of a September rate hike. That probability is up from the low 30s, though still below the roughly 60% level seen about a month ago.
Warsh's speech was longer than expected, lasting close to 30 minutes.
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USDCAD fell 0.48% as sellers regained control, testing support at 1.41922-1.4204 after failing to sustain a breakout above yearly highs.
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