Forex Flash: USD/CAD sell on rallies – Rabobank

FXstreet.com (Barcelona) - The Loonie is strengthening on Wednesday, dragging USDCAD from the boundaries of Tuesday's tops around 0.9950 to the current level around the key mark at 0.9900, as risk appetite is back to the markets.

Ahead of today's BoC monetary policy meeting, Strategist Jane Foley at Rabobank expects the central bank to somehow keep the recent hawkish tone, and suggests "The BoC could be the first G10 central bank to hike interest rates this cycle, albeit not for some time yet, and this backdrop should keep the CAD well supported relative to the USD. We would look to sell USDCAD on rallies".