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Oil slide does Canadian dollar no favours- USD/CAD lifts again

Yesterday the slide in Oil prices delivered a number of impacts across the markets. Those of note were on the FTSE 100, which I will cover in another update and the other of note was also a negative impact on the Canadian dollar. You see, even as the US dollar came under heavy pressure into the 4pm London fix yesterday afternoon, that did not see the Canadian dollar rise. In fact, it was exactly the opposite. The USD/CAD lifted to a session high on that 4pm fix, at around 1.3775. It later closed in the US at 1.3755. It has not traded much below that close so far today. The low seen so far has been set at 1.3748  and it is rising again as I write this update. The fact that there has been no rebound of note yet in oil prices so far this morning is feeding back negatively into the Canadian dollar. The USD/CAD is edging higher now and close to session highs, currently at 1.3763 
 

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