The Canadian dollar rose to one-month highs against its larger neighbour yesterday, as demand for the US dollar was impeded significantly by the highly-anticipated minutes of the Federal Reserve’s latest policy meeting. The US market has been tentative since the release of poor jobs data last Friday, allowing the Canadian dollar to capitalize on the US’s minor blip and hit 1.2388 – the pair’s lowest since 25th February.
The Bank of Japan decided to hold its policy steady, but it did see continued dissent to ease policy further by one key board member, Takahide Kiuchi – who has been opposed to further easing back in October.
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