CAD/JPY

Today’s uncertain markets provided a lot of opportunities for traders. One of the best proved to be the CAD/JPY pair with close to a 300 pip movement. Overlooking the potential for a volatile yen due to more risk-aversion, traders were buying the pair closely related to oil. With oil hitting its one-year high above $78, economists question whether supplies can match the surging demand. Today’s US crude oil inventories decreased by 6.5 million. The pair’s lowest level was at 109.93 early morning and now it is trading at its highest point of 112.70.