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USD/CAD in focus later today as BOC decides

The second major Central Bank monetary policy decision of the week will be announced later today and it comes from the Bank of Canada (BOC). The BOC are widely expected to leave their OCR (official cash rate) unchanged at 5%. Any other outcome will deliver a sharp move in the USD/CAD. The US dollar has been on the rebound from its recent lows so far this week, in advance of no change expected from the BOC today. However, the rebound from below 1.35 has so far stalled ahead of 1.36. The USD/CAD topped out yesterday at 1.3595 and later closed in the US at 1.3592. It has backed off a bit more so far today, reaching a session  low a short while ago, at 1.3567. There will be more to add on this pair, both before and after the decision is revealed. The USD/CAD is just now trading at 1.3572
 

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