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USD/CAD jumps to 1.3600 after Canadian CPI rises below forecasts
The February Canadian CPI (Consumer Price Index) has just now hit the screens. As noted earlier, the markets were looking for an increase in CPI last month. The annualised reading was forecast to rise to 3.1%, from 2.9% in January. The actual data has revealed a lower reading. The monthly data only rose by 0.3% and the annualised rate fell back to 2.8%, from 2.9%. Just ahead of this the USD/CAD was holding a tight immediate range, trading at around 1.3570. The outcome of this lower CPI data has sent the US dollar jumping back immediately to test 1.3600, currently trading now at 1.3603
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