The month of March was a big one for USD/CAD, and there were a number of as an extreme dose of risk aversion pushed a flight-to-quality in the US Dollar; and numerous actions taken at the Bank of Canada helped to continue the theme of Loonie weakness that’s been so present through 2020 trade so far. While the US Dollar had gained as much as 8.8% last month, USD/CAD had moved up by as much as 10.2%; highlighting that additional CAD weakness that helped to push USD/CAD up to a fresh four-year-high. The pair came very close to taking out the 17-year-high, falling around 21 pips short of re-testing that level before ... (full story)