Market reaction: CAD/
DEREK HOLT, VICE PRESIDENT OF CAPITAL MARKETS ECONOMICS, SCOTIABANK
"A little bit softer than expected. All the measures are still tracking above the Bank of Canada's 2% target and the upper half of the range ... but the incremental pressures seem to have eased. I don't have a great explanation for that, for why the U.S. showed a more powerful supply chain reopening effects than Canada but it could be that Canada is lagging a bit and we will see a little bit more pressure in the July reading."
(Reporting by Fergal Smith; Editing by Denny Thomas)