 Canadian Dollar jumps against US Dollar in early US session. The move is primarily attributed to Canada's CPI data, which came in stronger than anticipated, signaling persistent inflationary pressures. Despite this uptick, CAD is not leading the pack, as it faces stiff competition from others, including the buoyant Sterling. Pound's significant rise can be traced back to hawkish statements made by the new deputy governor of BoE. These comments have infused upward momentum into the currency, leading to its appreciation not just against Euro and Swiss Franc as well. Concurrently, Japanese Yen's selloff intensified following BoJ Governor Kazuo Ueda's post-meeting press conference, which reaffirmed the central bank's dovish stance, and lacked any indications of a shift towards exit of ultra-loose monetary policy. Dollar finds itself as the second-worst performer, succumbing to a wave of selling pressure across various fronts. While Euro has managed to gain against the weaker Yen and Dollar, it still ranks as the third-worst performer of the day... |
