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Published on 12 Jul 2017
@ForexYell
The
Canadian Dollar launched into 16 month highs after the Bank of Canada
hiked rates for the first time in 7 years while Yellen encouraged USD
bears on her inflation concerns.
Highlights:
• USD/CAD falls to 16-month lows on BoC rate hike, expectations for another hike rise
• USD/JPY breaks below 113, may be lead by USD weakness into July 20 BoJ Meeting
• Oil glut concerns remain after OPEC report shows current production exceeds 2018 demand
• Sentiment Highlight: Equity bears fight rising trend, contrarian view favors further gains
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