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Loonie Trades Quietly Ahead of Expected Rate Hike

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The Canadian dollar is trading quietly ahead of the Federal Open Market Committee (FOMC) meeting, where a 25 basis point rate hike to 4.0% is widely expected.

Oil prices have retreated from their recent peak but remain elevated, with WTI trading at $104.19.

The US dollar has been steady and firm, with the DXY index at 99.68.

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