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USD/CAD pushes higher as the wheels fall off the US equity market again


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USD/CAD at the highs of the day

The S&P 500 is down 100 points from the highs of the day. The index is down 2% intraday and the Dow Jones Industrial Average is now down 10% from the recent highs, entering an unofficial correction.

The pain in stocks still hasn’t led to the acute moves you would usually see in foreign exchange. Still, it’s beginning to have an effect as USD/CAD is now up 40 pips to 1.3146.

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