Canadian Dollar Buckles for the First Time in Five Years? November Will Tell

As November begins soon the United States Dollar (USD) bulls will attempt what hasn’t done is five years. The Canadian Dollar (CAD) has dominated the exchange rate battle since 2001 against the United States Dollar. 1 USD used to buy over 1.60 CAD back then. Recently the exchange rate was less than 1.10 CAD. After rising and falling again, the last two months USD/CAD has been climbing. Not since the end of September 2001 has the it made monthly gains three consecutive times. Today USD/CAD is staying the course up about 70 pips so far and if it continues the end of November will break a pattern. Could this be the end of a five year Canadian Dollar reign or is it still too early to tell?