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FXstreet.com (Barcelona) - After hitting lows in the boundaries of 1.0100 against the greenback, the Canadian dollar has managed to pick up pace and trim those losses to the current zone around 1.0060/65

"The Bank of Canada's surprisingly dovish rhetoric last week clearly took its toll on long positions in the loonie& In the short-term, there will be headwinds as markets correct but we do not anticipate major downside from current levels and suspect there will be institutional investors looking to add to structural CAD longs from the lows", assessed strategists at UBS, Geoffrey Yu and Gareth Berry.
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