Traders Piling Into Canadian Dollars As Canada's Central Bank Gets Hawkish

The Canadian dollar is soaring after Canada’s central bank hinted that an interest rate hike could be mere weeks away.

According to The Globe and Mail, The Bank of Canada kept its key interest rate unchanged at 0.25% on Tuesday, but they dropped a dovish pledge to keep rates low through the middle of the 2010. This means they could be setting markets up for a June interest rate hike.

Loonies are now worth more than U.S. dollars:


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