Yen, Greenback, Loonie & Kiwi – USDCAD clawed out a four-week peak at 1.2730. The relative strength of the U.S. jobs report and trade data relative to Canada’s last week, coupled with a pause in the nascent up trend in oil prices, have been keeping USDCAD underpinned. the New Zealand dollar has taken a hit following dovish guidance from the RBNZ policymakers in the wake of its expected decision to leave its cash rate at 1.75%. While the Kiwi central bank’s SMP wasn’t as dovish as markets had anticipated, RBNZ’s McDermott subsequently advised markets to recognise policymakers’ discomfort with the recent appreciation of the NZ dollar.The yen meanwhile, steadied off its highs, having been aided lower by remarks from U.S. Secretary of State Tillerson, who said that Americans should have “no concerns” over Trump’s rhetoric.
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Senior Market Analyst
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