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While speaking at an event  organized by the Ontario Securities Commission in Toronto on Thursday, Bank of Canada (BOC) Governor Stephen Poloz said that he thought monetary conditions were “about right” given the current situation.

With this comment hinting that the BoC is unlikely to opt-out for a rate cut, the CAD gathered strength against its rivals. The USD/CAD pair, which was trading above 1.3320 in the last hour, fell sharply in the last minutes and was last seen trading at 1.3280, erasing 0.18% on a daily basis.