USD/CAD: Options market stays bearish for consecutive second month

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One-month risk reversal on USD/CAD, a measure of the spread between call and put prices, looks set to end April on a negative side, -0.30 according to data source Reuters by the press time of early Wednesday

Given the negative figures, suggesting the call option losses momentum versus the put option, USD/CAD sellers keep the reins.

At press time, USD/CAD picks up bids around the intraday high of 1.2415, up 0.11% on a day.

In doing so, the pair moves should have followed the US dollar’s downside ahead of the key Federal Reserve (Fed) interest rate decision.

Read: Federal Reserve Preview: Will Powell power up the dollar? Three things to watch out for