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CAD reversal

The CAD has reversed on the back of weaker employment data. USDCAD has pushed up to 1.0690, 50 pips higher vs. levels ahead of the release. Data showed the unemployment rate rising to 7.1%, with move away from the year lows at 1.0621 made earlier in the month. Over the past 4 weeks, CAD has been one of the stronger performers, helped by higher inflation data released last month.

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