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Mohammed Abdullah

CAD

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The CAD in general lost some value due to the interest rate statement from the Bank of Canada today. They kept rates the same but the statement was extremely dovish causing investors and traders to start pricing in a potential rate cut for the CAD in the near future. 

They noted that the middle east tensions could have a significant effect on the economy and Canadian data had indicated a slowdown in growth. 

The Dovish tone from the BoC is the reason for the CAD losing value and the USDCAD shooting higher.

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