The market has been pricing in significant easing on the part of the US and ECB but so far it hasn't happened. Perhaps the market thinks it has gone too far to fast in this recent retracement of the sell off from 5/1 to 6/28 and it needs to give back some of its gains considering the weak economic climate and the lack of an active stimulus.
Either way the Canadian left rates at 1% today and the USD/CAD moved higher. they indicated in the statement they may move to raise borrowing costs in the future as concerns over are still present. The consolidation from August 16th continues and should setup a reversal if price can close above $1.00 which seems very possible.