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Has the Canadian dollar topped out?
The Canadian dollar is one of the better performers among major currencies this year, with speculative bets on a continued rise recently hitting a five-year high. But giving disappointing data on Friday and less than three months left in the year, the Canadian currency might have topped out. Since the beginning of the year, the currency widely known as the loonie USDCAD, +1.1374% has rallied 6.1% against its U.S. rival. The U.S.-Canadian dollar pair reached its lowest level in more than two years at C$1.212 in September. “The Canadian dollar has had a great run in the last six months,” said Minh Trang, senior ... (full story)
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Learn, a forex trader must, unlearn and relearn he will.