USD/CAD recovered on Thursday, after a sharp decline on Wednesday driven by broad-based US Dollar weakness resulting from the US monetary policy statement release. The recovery in USD/CAD started at the European open after posting a low at 1.3100 and gained momentum in North American trading as oil prices broke to new lows. USD/CAD has now erased 50% of its prior decline. The pair was last seen at 1.3168 for a small loss of 0.15% on the day. WTI crude oil prices had been consolidating in a range between $41.65 and $42.15 following the FOMC statement. In early North American trading, price broke lower out of the range ... (full story)