USD/CAD was moving toward fresh multi-year highs but then turned to the downside and lost more than a hundred pirp in a few hours as crude oil jumped more than 2.50% with the barrel trading near $50.
The pair climbed earlier to 1.2772, less than 30 pips below last week highs and then pulled back. Recently bottomed at 1.2653 and it was trading at 1.2670/80, down 0.30% for the day so far and falling for the second day out of the last ten trading days.
The loonie posted on February the fifth monthly gain in a row against the US dollar and had the best month since 2008, when it jumped during the global financial crisis.
The pair climbed earlier to 1.2772, less than 30 pips below last week highs and then pulled back. Recently bottomed at 1.2653 and it was trading at 1.2670/80, down 0.30% for the day so far and falling for the second day out of the last ten trading days.
The loonie posted on February the fifth monthly gain in a row against the US dollar and had the best month since 2008, when it jumped during the global financial crisis.
