The USD/CAD was bracketed by losses last week as sharp gains in crude oil on Monday and Tuesday drove the pair down more than two figures and the Federal Reserve’s taper hesitation on Friday reversed Thursday's minor recovery. {chart} West Texas Intermediate (WTI), the North American pricing standard, jumped 9.3% from Monday’s open at $61.82 to $67.57 on Tuesday’s close. The Canadian dollar’s extreme sensitivity to the price of oil showed immediately with the USD/CAD falling 1.8% from Monday’s 1.2820 to 1.2590 at the finish on Tuesday. About 11% of Canadian GDP is tied to the energy sector. Oil prices continue ... (full story)