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Daily Updates

USD to CAD Morning Update — June 10, 2020

All eyes are on the Fed today which will release an interest rate decision and hold a news conference this afternoon.  The Fed’s actions have buoyed the financial markets so far but it remains uncertain how committed the central bank is to those programs as they were originally designed to ensure smooth functioning of markets, which is no longer an issue.  No major changes are expected but markets will be closely watching for signals about future changes.  The Canadian dollar is slightly lower again this morning after falling yesterday.  Equities and oil are also lower.

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