• USD/CAD keeps grinding higher, printing fresh YTD highs at 1.4035

• Warsh’s first Fed presser is the key event risk; tail risk is a hawkish leann

• A hawkish surprise could see USD/CAD probe 1.4100 in short order

• CAD also faces a separate headwind from USMCA uncertainty into the July 1 deadline

• Bias remains tilted higher for USD/CAD near term, with CAD looking set to underperform

• Prior resistance-turned-support sits at 1.3920/67, with the 200DMA below at 1.3820
CAD daily chart


Justin McQueen is a Reuters market analyst. (The views expressed are his own). ((Email: ))