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Canadian Dollar Falls to Year Low at 1.3969 as BoC Expected to Hold Rates

Forex Commodities

2026-06-09 17:01:01

According to Jin10, the Canadian dollar fell to 1.3969 per U.S. dollar on Tuesday, reaching its weakest level this year as markets anticipate the Bank of Canada will hold its benchmark rate unchanged at Wednesday's decision. Crude oil prices, a key Canadian export, fell below $90 per barrel. According to JPMorgan strategist Pat Locke, the BoC rate decision poses modest dovish risks for the currency. CFTC data showed speculators increased bearish bets on the Canadian dollar for a third consecutive week.

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