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It’s a light and easy start to the week so far with small changes seen among the major currencies as the Yen and Dollar are slightly weaker.

After the big gains over the past two weeks, a pause may be possible as the market organizes before we prepare for the FOMC meeting next week.

Oil prices still look good and it’s hard to find reasons to go against that other than a pullback to excessively stretched long positions. But even so, declining buyers have proven to be resilient over the past few weeks, so there you go.

Either way, this should help provide some support for the loonie, as we may enter trading a bit this week with the central bank’s attention returning.

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