The USDCAD pair, currently at a rate of 1.32164, is expected to meet its end of Q3 target of 1.31. This is due to the anticipated 25 basis point hike and hawkish guidance from the Bank of Canada, according to Credit Suisse.
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Economists at Credit Suisse preview today’s Bank of Canada meeting and its implications for the CAD.
See – BoC Preview: Forecasts from eight major banks, enough evidence to pull the trigger on another 25 bps rate hike
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