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BOC: USD/CAD Rallies to Top-End of Downtrend Channel on Dovish BoC

BOC

USD/CAD spikes on the back of the BoC decision, showing above the 1.37 handle for the first time this week. 

The BoC statement and decision are toward the dovish end of expectations given some were looking for a delay to easing this month, and the statement included a reference to potential future cuts. These elements lean dovish, with focus shifting to the upcoming press conference in just over 30 minutes.

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USD/CAD spikes on the back of the BoC decision, showing above the 1.37 handle for the first time this week. 

The BoC statement and decision are toward the dovish end of expectations given some were looking for a delay to easing this month, and the statement included a reference to potential future cuts. These elements lean dovish, with focus shifting to the upcoming press conference in just over 30 minutes.

Keep reading...Show less