- The Canadian Dollar is up over 0.8% against a slumping US Dollar on Friday.
- Federal Reserve (Fed) officials finally opened the door to a rate-cutting cycle.
- Fed policymakers opened the floodgates with Fed Chairman Jerome Powell giving the nod to a September rate cut while speaking at the Jackson Hole Economic Symposium.
- Markets are fully geared for a September rate cut.
- At the current cut, Markets are betting on one-in-three odds of a double cut for 50 bps on September 18, with the rest of the board still expecting a quarter-point trim.
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