The Bank of Canada (BoC) has just announced its interest rate decision, leaving the key rate unchanged at 0.25% at the April policy meeting. However, the key data piece was the tapering of the quantitative easing program of the bank via a downward adjustment of the size of its asset purchases from C$ 4billion to C$3billion. In a hawkish outlook, the BoC also noted that economic conditions could allow for a potential rate hike in the lower half of 2022. Following this hawkish stance by the bank, the USD/CAD came under heavy selling pressure and shed off 0.86%, erasing all earlier gains. Technical Levels to Watch The ... (full story)