CADJPY Drops to 80.00 Level Ahead of BOC Rates Decision

The CADJPY pair fell to test support at 80.00 as the market awaits a rates decision from the Bank of Canada (BoC). Global stocks were also lower on Tuesday and this has seen safe-haven flows to the Japanese Yen.

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CADJPY Slumps Over 50 Pips on Bank of Canada Weaker Outlook

CADJPY trades 0.33% lower at 83.75 making fresh ten-day lows after the Bank of Canada sees a weaker growth in the near term. The central bank kept interest rates unchanged at 1.75% as was widely expected but the shift in the outlook is what is moving the Canadian dollar lower. [...]