Japanese Yen falls to a 20-year low against the USD

Today's expected range for the Canadian Dollar against the major currencies:
US Dollar 1.2850-1.2950
Euro 1.3450-1.3550
Sterling 1.5950-1.6050
WTI Oil (opening level) $101.44 (Oil price is unchanged from yesterday's opening rate)
The US Dollar Index is marginally stronger again this morning as it was led higher by a weaker Japanese Yen. USD.JPY traded above 130.00, the levels that were last seen in 2002, The Bank of Japan affirmed its policy of allowing a weaker Yen and to continue to provide support to the Japanese economy.
In Europe the question now is will EUR.USD reach parity in the coming months? The currency pair traded at 1.0480 this morning which is a new five-year low. Pressure continues to mount on the European economy from the Ukraine/Russia war and the cutting off of gas supplies to both Poland and Bulgaria. This month alone the Euro has lost over 5% in value to its US Counterpart.
The Canadian Dollar continues to lose ground to its southern neighbour with USD.CAD opening the day at the 1.2870 (0.7770) level but similar to yesterday's trading pattern it is still picking up gains against the other currencies which goes to highlight the weakness in Europe at the moment.
After a small gain yesterday, stocks are again pointing higher on the opening but the markets will be looking closely at the US 1st quarter GDP reading. The market is expecting a big drop in the growth rate from the fourth quarter as a result of the continuing affects of the pandemic. The market is looking for a growth rate of 1.1%, anything lower could put the stock market in a tailspin and push the US Dollar higher.
Today's expected range for the Canadian Dollar against the major currencies:
US Dollar 1.3750-1.3850
Euro 1.3350-1.3450
Sterling 1.5250-1.5350
Today's expected range for the Canadian Dollar against the major currencies:
US Dollar 1.2750-1.2850
Euro 1.5650-1.5750
Sterling 1.7350-1.7450
Today's expected range for the Canadian Dollar against the major currencies:
US Dollar 1.3510-1.3750
Euro 1.5580-1.5820
Sterling 1.8340-1.8650