USD/CAD Volatility Jumps as BoC Decision Looms

US Dollar bulls took a breather from their recent rebound attempt on Tuesday. Remarks from Treasury Secretary nominee and former Fed Chair Janet Yellen appeared to have little impact on markets. Nevertheless, the DXY Index notched a -0.3% decline for the session as USD price action weakened slightly across the board of major currency pairs. the broader US Dollar drifted lower to probe its 8-day simple moving average, which roughly underpins the short-term bullish trend formed by a string of higher highs and higher lows since 07 January. Surging Treasury yields was pegged as a primary catalyst driving the latest bout … (full story)

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