US dollar dives versus the Canadian as the BOC holds overnight rate - 17.4.2012

US dollar fell against the Canadian after the announcement from the Bank of Canada that it maintains overnight rate target at 1 per cent. The Forex pair penetrated the support level at 0.9925 and it was lastly seen at the 0.9899. Earlier today, U.S Housing starts fell below the anticipated level. The forecast was at 0.71 million while the announcement for March is at 0.6 million as the Commerce Department showed today in Washington. At the same time the building permits climbed 4.5 per cent for March, reaching 0.75 million, it was estimated to drop to 0.71 million.