The Canadian dollar is at 1.410 this morning and close to unchanged against its closing levels on Friday. Tiff Macklem was announced as the next governor of the Bank of Canada and as expected, the announcement did not have much impact on the exchange rate. With no data expected out of the US or Canada today and no major developments over the weekend, we do not expect much volatility today. If equities start selling off significantly then expect the Canadian dollar to follow.
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