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USD/CAD: A Trap for the Loonie. Hawkish Bank of Canada Did Not Help Sellers
Following the June meeting, the Bank
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Following the June meeting, the Bank of Canada left all monetary policy parameters unchanged, thereby implementing the baseline and most anticipated scenario. Specifically, the main interest rate remains at 2.25%. Nevertheless, the central bank effectively provided short-term support for the Canadian dollar—albeit only on paper. Despite the central bank's efforts to maintain balance in its rhetoric, the market assessed the meeting's outcome as moderately hawkish. As a result, the USD/CAD pair hit a weekly low, testing the 38 level. While
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Irina Manzenko,
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