USD/CAD trades to a fresh monthly low (1.2471) following the failed attempt to push back above the 50-Day SMA (1.2585), but the Bank of Canada (BoC) interest rate decision may keep the exchange rate within the March range as the central bank is widely expected to retain the current course for monetary policy. USD/CAD snaps the opening range for April as longer-dated US Treasury yields extend the decline from the start of the month, and the exchange rate may continue to give back the rebound from the March low (1.2365) if the BoC adjusts the forward guidance for monetary policy. The BoC rate decision may overshadow ... (full story)