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The Canadian government has decided to extend the emergency wage subsidy program by another three months to the end of August, Prime Minister Trudeau announced on Friday.

“Canada will spend C$450 million to help researchers and research institutions,” Trudeau further added.

Market reaction

The USD/CAD pair rose higher in the last minutes but this seems to be a product of broad-based USD strength rather than Trudeau’s remarks. As of writing, the pair was up 0.27% on the day at 1.4087.