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USD/CAD: Intraday Analysis & Forecast update

The Canadian dollar edged higher against its U.S. counterpart on Wednesday but was holding near its weakest level since the middle of December as oil prices fell and investors awaited U.S. inflation data for clues on the Federal Reserve policy outlook.

The loonie USDCAD was trading 0.1% higher at 1.3375 to the greenback, or 74.77 U.S. cents, after moving in a range of 1.3366 to 1.3395.

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