AUD/CAD: Loonie Dips as BOC Signals Longer Rate Pause

The Canadian dollar is deemed to lose further ground opposite the Australian dollar today as the Bank of Canada lowered its economic estimates and said it will likely keep interest rates unchanged longer than previously anticipated. Meanwhile, the Aussie is believed to receive a lift from a buoyant update from China’s manufacturing sector, bolstering prospects further for the Chinese, as well as the Australian economy.

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