Reuters: Canadian dollar hits multi-year low on hawkish Fed

"Demand for protection against a downside move in the loonie has soared," said Karl Schamotta, chief market strategist at Corpay “Implied volatility is marching higher, and risk reversals - which measure the cost of insuring against a drop in the Canadian dollar - are showing signs of severe strain." Reuters: Canadian dollar hits multi-year low on hawkish Fed