Bank of Canada Limits Canadian Dollar Upside Potential

Bank of Canada Limits Loonie Upside, Oil Only Saving Hope for Bulls

The Government of Canada has confirmed the dampening of the Canadian dollar rally by maintaining the overnight target rate at .75% and also specifically mentioning the impact of the Canadian dollar in its release. The specific mention of the Canadian dollar in its release reiterates the Bank of Canada preferring a weak loonie and also limits Canadian dollar upside as they may talk down any rising Canadian dollar in the future.

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