We saw consolidation of the gains in the Canadian dollar from last Friday.

Since Friday, we've seen the Canadian dollar do very well against the crosses, particularly against the euro and the sterling. That seems to be driving most of the Canadian dollar gains right now.

The Canadian dollar is relentless.

The Canadian dollar has gone through the roof.

We've had a bit of range-trading. I think traders have been a bit wary about taking positions on dollar/Canada today.

Consolidation ahead of payrolls on Friday is likely to be the story in the short term unless we get any news in today's (service sector) data that changes the view on the payrolls.