Breaking: BoC lowers policy rate by 50 basis points to 1.25%, USD/CAD spikes toward 1.3400

The Bank of Canada has decided to lower its policy rate by 50 basis points to 1.25% from 1.75% with an aim to help the economy battle the negative impact of the coronavirus outbreak on the economy.

With the initial market reaction, the USD/CAD pair spiked to 1.3400 area.

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