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The Canadian Dollar paused its gains as the Bank of Canada rate decision had something for everyone. The BoC held rates as expected, but their revised economic outlook showed that Governor Poloz sees room for more rate hikes down the road. The key comments from the Bank of Canada were as follows, Higher interest rates will be warranted over time, although some monetary policy accommodation will still be needed to keep inflation on target. Overall, the Canadian Dollar remains within a bullish pattern against the US dollae with a scope to trade through the February 14 low of 1.2491 toward the downside 1 Std. Deviation move of the 12-month trailing price toward 1.2461.
