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USD/CAD lifts above 1.37 after Canadian unemployment rises as expected

The latest monthly jobs report from Canada has not really held many surprises. The unemployment rate did rise to 6.2%, as expected by the markets. The claimant count was pretty much on estimates too, rising by 26k. The US data has clearly eclipsed that seen from Canada and that has supported a rise above 1.37 in the USD/CAD. The high seen so far has been set at just above 1.3730 and that means it is very close to the 1.3741 high set on Wednesday after the BOC lowered its benchmark rate to 4.75%. There is the prospect; that the US dollar may extend furthers if it surpasses that level. The USD/CAD is currently trading at 1.3730 after peaking a short while ago at 1.3737 
 

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