There must be some flow through
There is some tomfoolery going on in USD/CAD today.
Someone was sitting on the USD/CAD pair offers approximately five hours, from the start of New York trade up to 1 h, AND when the pair reached a high of 1.2519.
The mystery of nomination started early in the day ahead of US CPI and retail sales report Which climb above 1.25 was wiped out by the weakness of the inflation data and the pair reached a session low at 1.2453.
The offer reappeared and continued until the pair reached a couple of stops early after the break the high and go up to 1.2520. The offer quickly disappeared and, since then, USD/CAD fell back to 1.2479.
On the net, it is almost certainly a sort of agreement that needed to be done.