XE Market Analysis: The Canadian Loonie Drops to a Six-Week Low Ahead of Bank of Canada Meeting

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Dollar-yen remains in consolidation mode near an 11-week top, just below the 112 handle. Market participants wait for more concrete development over the US-China trade talks and NFP data for directional moves. The USD remains in a strong position despite calls from the President for a softer dollar.OVERVIEW

  • The strong greenback is trading near a two-week high against other major currencies.
  • GBP/USD moved south with growing uncertainty over the outcome of the second meaningful vote.