Summary
The BoC left policy unchanged , while Bank’s statement said uncertainty over U.S. trade policy clouds the outlook, though expects strong Q1 growth, and calls recent data encouraging. USDCAD fell to 1.3464 from 1.3520 following the announcement. Meanwhile, EURUSD holds below 1.1200 after ECB’s Draghi stating that there is no reason to deviate from policy guidance, stressing that QE could have more negative consequences than negative interest rates.
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