Loonie Falls As BoC On Hold, Says ‘Cautious’ On More Hikes

You might have forgotten about this, but the BoC is today. https://twitter.com/heisenbergrpt/status/923186829498748929 The furious CAD rally that began just as the spec shorts had built a massive position in late May has come off a bit recently, even as Poloz has seemingly established that he's not completely averse to surprising the market with rate hikes. To be sure, those hikes weren't as ill-advised as they might have seemed given the economic backdrop in Canada, but recently, the data ha