USD/CAD fell during the session on Thursday as the "risk on" trade came back into the marketplace. The parity level below still looks very supportive at this point, and the fact that we gave back 50 pips at the end of the session looks like the downside may be a bit limited.
The USD/JPY pair is currently sitting at the 78 level, and looks like it is trying to form a bottom at this point in time. The Bank of Japan is currently looking to work against the Yen, and as such we think intervention isn't too far below current levels.
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