The USD weakened across the board yesterday following a notable miss in the US initial claims data as that added some more pressure on the USD with the market weighing the possibility that the labour market could weaken fast enough in the next months to justify more rate cuts than expected. Overall though, the price action has been rangebound this week as the lack of key catalysts and the waiting for the US CPI report kept the market at bay.The CAD, on the other hand, has been under pressure in the first part of the week maybe due to the sustained weakness in crude oil prices and expectations building for the BoC to cut rates in June, although the employment data today and the Canadian CPI r
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