The loonie was not dragged down by a tumble in oil prices and managed to eke out gains after the Canadian and U.S. bond yield spreads narrowed due to the softness of the big dollar. The USD was being sold off in exchange for investors looking for safety and headed into EUR, CHF and JPY. The CAD was able to advanced on the USD despite the heavy correlation exhibited earlier this year between the price of crude and the loonie. Tomorrow’s words by U.S. Federal Reserve Chair Janet Yellen could either turn around the fate of the USD or put further downward pressure if she gives any indication of the March FOMC being off ... (full story)