USDX dip making things interesting, watching CAD for follow-through
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The $USDX taking a bit of a dip today, down to 25.545, definitely makes for a more dynamic setup across the majors. While not a huge move, it's enough to loosen things up a bit from the recent range. My eyes are now squarely on what this means for currencies that have been on the ropes.
Specifically, I'm watching $CAD closely. It's sitting dead flat at 95.879 today, which is almost comically stable given the broader FX movements. If the USD weakness continues, or even just holds, that could give CAD some much-needed breathing room. The question is whether it'll be a sustained bounce or just a dead cat. No rush, but it's on the watchlist for signs of life beyond the current flatline.
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