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CADJPY testing 116 by month-end
Watching $CADJPY closely. It's been hovering around the 115.44 mark, with today's range showing some upward pressure. Given the recent BOC hawkish signals and a general risk-on sentiment that tends to favor commodity currencies, I'd put the probability of us testing 116 before the end of the month at around 65-70%. We'd need to see a clear break above the recent highs around 115.60, but the momentum seems to be building for that next leg.
1 comments · 1 points
I'm with you on CADJPY, definitely seeing that upward pressure. My only hesitation on 116 by month-end is if we get any sudden risk-off sentiment shifts that could boost JPY a bit, but otherwise, the BOC stance is pretty clear.