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USD/CAD hits 3-month lows

FXStreet (Córdoba) - USD/CAD extended its decline on Thursday as the loonie continued to benefit from higher oil prices and the BoC optimistic tone in yesterday’s statement.

USD/CAD has dropped more than 3 big figures over the last sessions and bottomed out at 1.2200 in recent dealings, scoring its lowest price since January 21. However, USD/CAD failed to break below the 1.2200/1.2197 support area, where the 100-day SMA converges with the psychological level. At time of writing, USD/CAD is trading at 1.2210, recording a 0.66% loss on the day.

On Wednesday, the Bank of Canada decided to leave the benchmark rate unchanged at 0.75% and sounded quite optimistic regarding economic conditions. The bank anticipated the GDP growth will rebound in the second quarter, while it expects the economy to reach full capacity around the end of 2016.

GBP/JPY: Moving in to over bought territory towards 178 handle

GBP/JPY is currently trading at 177.78 with a high of 177.97 and a low of 176.5.
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DXY looks to regain 98.00

The greenback, gauged by the US Dollar Index, has managed to leave session lows and is now looking to clinch the 98.00 handle...
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