ForexLive Americas FX news wrap: BOC drops a bombshell
Forex news for New York trading on June 12, 2017
– Gold down 50-cents to $1266
– S&P 500 down 6.5 points to 2452
– US 10-year yields up 0.7 bps to 2.21%
The Canadian dollar stole the spotlight on Monday. Wilkins wasn’t even on most calendars but she dropped a big hint about a major policy shift towards something explicitly hawkish. USD/CAD was very slow to react at first but then word spread and it dropped to 1.3334 from 1.3462. Note that specs are long the pair and in danger of a big squeeze.