USD/CAD is continuing its descent through 30-year lows in the wake of the bluntly hawkish statement from the Bank of Canada. It is currently around C$1.0740 after notching a low at C$1.0737, its lowest level since Sept 1977, according to EBS.
Canadian bonds have tumbled in the aftermath of the Bank of Canada's policy statement, which clearly signaled that possibility of interest rate increases in that it referred to as the "near term." The benchmark 10-year bond is yielding 4.48%, from 4.41% Fri, with the two-year yielding 4.56% from 4.45%. [via Dow Jones Newswire]
USD/CAD 5 min chart
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