Agree. When the market is saying something is 100% going to happen, it is basically priced in.  The CAD's recent drop has been about the Fed hike, and also the fact that WTI was down 9% last week.  In the past, Fed rate hikes have had a negative effect on the CAD of maybe 1.25 cents for a 25 bps hike, assuming the BoC does not hike at the same time.