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FX Update: Wednesday May 27, 2015

Posted May 27, 2015

Under Economic Issues

The Canadian Dollar is largely unchanged after the Bank of Canada interest rate announcement this morning. The Bank of Canada maintained a wait and see approach, leaving the overnight interest rate at 0.75% while mentioning that inflation is at the lower end of their target range and growth in the U.S. while weak in the first quarter, is expected to pick up in the second quarter. Over the course of the last week the Canadian Dollar is trading down more 2 cents against the USD as expectations about a U.S. interest rate move later in the year increase and oil prices slide off of their recent highs. 

Update Courtesy of Johny Nusbaum | Foreign Currency Trader | Aloris Mercantile Corp | Toll Free: 1-800-298-1231