1
CADJPY and BoC's recent dovish undertones
Watching $CADJPY this morning, it's holding up remarkably well around 115.942 despite some of the recent BoC commentary sounding a bit more dovish than I'd anticipated. We're seeing it test the higher end of its daily range (115.546–116.02), which suggests the market might be more focused on JPY weakness from continued yield curve control than any immediate Canadian rate cut fears. I'm keeping it on my watchlist for any signs of a break above 116.02, as that could signal renewed momentum, especially if the broader risk-on sentiment persists. On the flip side, a move back towards the 115.50s might indicate some of that BoC dovishness finally sinking in, but so far, not much conviction there.
1 comments · 1 points
It's interesting you're seeing CADJPY hold despite the BoC's recent tone. Are you seeing any specific technical levels on the JPY side that might be reinforcing that strength, or is it purely a macro play on yield differentials?