Flash: USD/CAD setting up for a longer term uptrend - TDS

FXstreet.com (Barcelona) - While the market is still trying to come to terms with the decision by the the Bank of Canada to adopt a neutral bias on monetary policy, according to Greg T. Moore, FX Strategist at TDS, "the shift suggests the CAD could quickly lose the yield advantage that has been one of its pillars of support in recent years." That, in view of Moore, strengthens the case for a longer term trend higher in USD/CAD. Short term, USD/CAD has probably seen the lows of the year, Moore states.