CAD Drops After BoC Monetary Policy Meeting, Crude Oil Likely to Blame

May 30,2019 20:26   Source:Earnforex
The Canadian dollar was largely soft today, though it has managed to trim its losses by now, even gaining on the euro. The decline of crude oil prices is likely to blame for the poor performance of the currency as domestic news did not bring anything particularly bad. The Bank of Canada left its main interest rate at 1.75%, as was largely expected. The central bank maintained neutral tone in the statement. On a positive side, the bank […]

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