U.S. Dollar Rally Resuming

A few more key levels need to be taken out, but it appears the next upturn in the greenback is underway.

Globe & Mail: Bank of Canada rate cut ‘guts’ Canadian dollar
“The perfect storm for the loonie has arrived - the Bank of Canada, weak oil, sluggish domestic growth, and an upcoming election,” Rahim Madhavji, president of Knightsbridge Foreign Exchange, said in a report titled “Bank of Canada cuts rate, guts loonie.”

“The Canadian dollar has reacted violently to the news - a rate cut means flows of funds out of Canada as yields are now lower in Canada,” he added.

“With expectations that the Fed will raise rates sometime in 2015, the U.S. dollar uptrend will continue.”
BOC cut rates to 0.5% and a recession hasn't even really started yet. How long before Canadian QE begins?

Asian Dollar Index on the verge of breaking to a new low:

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