CAD benefitted from confirmation......>

DOLLAR-CANADA: CAD benefitted from confirmation that Canada will receive an

indefinite exemption (contingent on NAFTA progress), with USDCAD printing a low

of 1.2888, the cross last trades at ~1.2905 

- Comments by BoC Deputy Gov. Lane were largely ignored by CAD traders, as the

speech reinforced the emphasis on trade-related uncertainties, and consequences

for business investment in Canada, reinforcing the more dovish tilt of the

policy statement published Wednesday relative to January. (MNI - For Full Story

See Main Wire At 00:12 GMT 03/09).

- Looking at USDCAD from a technical perspective, two attempts to move above

$1.3000 have failed. The subsequent pullback meeting support from above the

38.2% Fibo retrace level (from the Feb 26 low) at $1.2854, initial hourly

support lies around 1.2880.