The USD strengthened against most currencies as a safe haven currency, China has now demanded that the U.S. close its consulate in Chengdu. This was not unexpected, but analysts still took this as a negative sign. Oil prices dropped slightly falling below $41 USD a barrel while North American equities dropped on this news, traders used this as a reason to sell and take profits.
The Canadian dollar is a bit weaker, gold has reached recent new highs and this helped the CAD from selling off even more, expect a narrow range the rest of the day.
Currently Close Range
USDCAD 1.3427 1.3410 1.3378-1.3445
EURCAD 1.5618 1.5550 1.5534-1.5623
GBPCAD 1.7164 1.7085 1.7059-1.7171
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