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03/15/2010, Scot Ringa: March 2nd, 2010 The (BOC) Bank of Canada announced that it would leave its key deposit rate at a historical low of .25%. This fueled a rally in the CAD$ futures from .9602 to a close of .9653. On March 12th, the better than expected CAD unemployment number ADDED 21,900 jobs that also drove the CAD$ (June) futures price to its highest level this year at .9848. The unemployment surprise has also fueled speculation that the BOC might raise its key rate on its next April 20th, 2010 meeting. The BOC had previously pledged to keep its target rate in place until the end of June. The USD/CAD exchange rate today closed at 1.0196.
Foreign Exchange Rates
FX - North & South America
Global Perspective 19