CAD remains firm - BBH

The Canadian dollar remains firm within yesterday's ranges after rising past $0.80 yesterday for the first time since May 2016, according to analysts at BBH.  

Key Quotes

“The US dollar is straddling the CAD1.25 level.  The low from May 2016 was near CAD1.2460, but it is difficult to call that support.  There is a little congestion ahead of the CAD1.2360 area, and the next important technical target is not until we get closer to CAD1.2160.  At the end of the week, Canada report May GDP figures.  The year-over-year pace will rise sharply as the May 2016 0.6% decline drops out of the comparison.  Canada is poised to be the fastest growing G7 economy this year.”