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Poloz Whipsaws USD/CAD, But Still Set to Breakout
The Canadian Dollar is in focus today as Governor of the Bank of Canada, Poloz testified before the House of Commons Standing Committee on Finance in Ottawa. “We have to weigh the risks of waiting longer against what are the costs associated with doing something more immediate, our best plan right now, we think, is to wait for the next 18 months or so.” Very standoffish indeed and you can see why the CAD immediately rallied as the quotes first hit. But as so often happens, sanity prevails as markets realise that these sorts of speeches are just full of empty rhetoric that has been said 100x before and we’re ... (full story)