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Commodities  |  April 17, 2012 17:22:28

Canadian dollar strengthens sharply after the central bank commentary

ColosseumRate USD / CAD falls today by 1.2 percent to 0.9872 CAD for 1 USD, which is the lowest since 20 March. Canada's central bank left its key interest rate unchanged at 1% level. In his commentary, however, said that the economy reaches full output already in the first half of next year. This is a bit more than the initial forecast. Due to rising inflation the Bank of Canada will consider tightening monetárnej policy. Canada is favorable for increasing global demand for commodities and a significant recovery of the U.S. economy, which are its largest trading partner.

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