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USD/CAD Rebounds as US Dollar Strengthens

The USD/CAD pair has rebounded above 1.3900, driven by the strengthening US Dollar. The recent US presidential election results have boosted the US Dollar, as markets anticipate policies that could lead to higher inflation and interest rates.

Key Factors Influencing USD/CAD:

US Presidential Election: A Trump victory is expected to strengthen the US Dollar.
Federal Reserve Monetary Policy: The Fed is expected to cut interest rates on Thursday, but the impact of Trump’s policies on inflation and rates remains uncertain.
Bank of Canada Monetary Policy: The BoC is expected to continue easing monetary policy.

Technical Analysis:

The USD/CAD pair has broken above a key resistance level and may continue to strengthen in the short term. However, it’s important to monitor the overall market sentiment and any potential shifts in economic indicators.

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