Canadian Dollar Hangs on to Gains

The Canadian dollar soared on Wednesday, rising 2.1% against the US dollar.  The move followed a sort of surprising Bank of Canada interest rate increase.  The BoC increased the overnight rate from 0.75% to 1.00% and issued a very upbeat sounding statement. The Bank cited: 1) stronger than expected economic data   2) Growth becoming more broadly-based and self-sustaining 3) widespread

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