USD/CAD got a bounce on Friday as the "risk off" trade got back into swing. Fresh concerns about Europe should continue to generate a bid for the USD, but the concerns of military action in the Middle East can also pressure oil to the upside, which pressures the CAD to the upside. This pair looks like it could be choppy.
The EUR/USD pair got pummeled on Friday as Valencia has informed the Spanish government that the state will need a bailout. This leads to fresh concerns in Spain, and the European Union on the whole. 1.20 now looks like it is being targeted.
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