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USD/CAD Unable to Break Through Psychological Barrier

The U.S. dollar has been unable to break through key resistance levels against the Canadian dollar despite a weaker Canadian economic outlook.The Canadian dollar has been under significant pressure since the Bank of Canada cut interest rates by 50 basis points on Tuesday. The loonie lost more than a full cent on the initial reaction to the cut and the bank's accompanying statement.Currency strategists said the BOC released a very grim report, which helped to facilitate the

bank of japan monthly economic report - forcast for loonie canadian dollar - psychological barrier

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