The Bank of Canada isn’t an outlier after all.
Canada’s dollar gained a few cents against the U.S. currency in June as various central banks turned negative and Canadian economic data was surprisingly strong. As the Reserve Bank of Australia, European Central Bank, U.S. Federal Reserve and others expressed deep concern about what the trade wars were doing to global demand, Statistics Canada reported that Canadian merchandise exports surged 4.6 per cent in May. We appeared to be on an island.
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