In the face of growing trade protectionism and more interest sensitive households, the BoC delivered a relatively upbeat rate hike and future assessment, notes the research team at TD Securities.
“With the curve already pricing in gradual tightening and the BoC's near-term projections looking a little optimistic, we think risk/reward continues to favors USDCAD finding support on the dips with an eye to return to the year-to-date highs in the coming weeks.”
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