The Bank of Canada left its benchmark interest rate at 1% as expected. The tone of the release did not sound dovish, and basically this is more or less a non-event in that it did not shift the narrative.
The Canadian Dollar gained after the release.
USD/CAD fell after an initial spike to 1.0420, down to 1.0370. It still trades within a range where resistance is 1.0440 and support is 1.0350. A break below that opens the 1.03 handle for the 6/5 session.
CAD/JPY rallied from 75.35 to 76.00, clearing the session high, and suggesting at least a very short-term corrective rally toward 76.50-76.60.
