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USD/CAD testing 1.35 this morning

As the Bank of Canada (BOC) maintained its 5% OCR (Official Cash Rate) yesterday afternoon, the hawkish commentary accompanying that unchanged policy announcement was noted here. The USD/CAD had been drifting lower into this decision and that hawkish rhetoric kicked it lower again. Eventually, the US dollar fell back towards 1.35 and later posted a daily close last night at 1.3514. The price has come close to breaking below 1.35 this morning, but so far it has held that level. The slide in the USD/JPY has helped to keep that level  intact and that is because the CAD/JPY has fallen by around 1% today. That said, the CAD has also gained very slightly versus the Euro and the Pound. It could be up to whatever further comments the Fed boss has to add later today, which decide if 1.35 remains intact, or the BOC policy dynamic pushes it lower again. The USD/CAD is currently trading at 1.3508 

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