USD/CAD in focus in Asia on Poloz, more to come in Tokyo

Currently, USD/CAD is trading at 1.3405, down -0.11% on the day, having posted a daily high at 1.3424 and low at 1.3405.

USD/CAD is testing the downside in early Asia after earlier comments from BoC's Stephen Poloz was crossing the wires during an interview on Bloomberg TV before speaking in the Tokyo session.

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Poloz explained that the central bank has seen some pockets of economic weakness recently, but states that it was expected. The most bullish statement for the CAD was when Poloz also said that they see inflation back at target around mid-2018 and that they would need to see a "significant departure" from that outlook to cut rates.

BoC's Poloz: Have seen some weakness recently but that's part of the expectation

USD/CAD levels

Current price is 1.3408, with resistance ahead at 1.3413 (Weekly Low), 1.3422 (Weekly Classic S1), 1.3422 (Daily Open), 1.3422 (Daily Classic S2) and 1.3424 (Daily High). Next support to the downside can be found at 1.3405 (Daily Low), 1.3397 (Yesterday's Low), 1.3391 (Daily Classic S3), 1.3320 (Weekly Classic S2) and 1.3307 (Monthly Low).