The USD/CAD could be on the verge of another move higher. Not only has the US dollar resumed its bullish trend following the FOMC meeting last night, but the price of crude oil has been falling in recent days, eroding the value of the positively-correlating Canadian dollar, while equities have been struggling, which is normally a bearish sign for commodity dollars. It looks like the dollar bears were were positioned for a more dovish FOMC statement yesterday than the one they got. Apparently, they have been forced to cover their dollar short positions, as the implied odds of a 2019 rate cut are now down near 50% from ... (full story)