Poloz Sends Loonie Up and Down After Central Bank Meeting: Chart

The Canadian dollar erased gains after Bank of Canada Governor Stephen Poloz said the central bank “actively” discussed the possibility of adding more monetary stimulus. The currency had rallied to a one-month high after the central bank held its benchmark interest rate at 0.5 percent and expressed confidence the nation’s economy is on the mend. With the Federal Reserve moving toward an interest-rate increase, there’s a stronger case for more Canadian dollar weakness as the yield gap between Treasuries and Canadian bonds is set to widen.

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