Bank of Canada CUTS benchmark rate by 25bps to 0.75% citing financial stability risks. USDCAD powers straight through our 1.22 target to hit 1.23. Next stop 1.25
Just to emphasize how far we’ve come here’s a chart of USDCAD going back 2yrs………the Loonie has effectively had a 20% devaluation against the USD
USDCAD
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