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Can’t keep a good Loonie down
M&A demand remains the driver for CAD strength, traders say, pushing USD/CAD back to the 0.9930s after a pop to 0.9970 after weak Canadian employment report. Both AUD and CAD are trading firmly despite drops in risk-appetite (as reflected in stock prices and bond yields) and a broad drop in commodity prices (CRB down 0.8%) . 0.9910 is next support for USD/CAD amid vague whispers of a 0.9900 barrier being in play.
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