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USD/CAD decline side extends

The USD/CAD pair drops -0.54% to fresh session lows of 1.3274, heading for a test of four-month lows reached near 1.3230 region. The CAD resumes its upward trajectory against the US currency, after a temporary reversal seen yesterday, as the oil prices regain lost footing and stage solid rebound this session on increased hopes for Chinese oil demand after yuan hit fresh yearly highs, making oil imports cheaper for China buyers. Meanwhile, the US oil jumps almost 2.5%, while the Brent oil rallies 2% in Asia.

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