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After Bank of Canada hikes rates, what happens to Canadian dollar? An interest rate hike is likely to boost the value of the loonie β but there's no guarantee The value of the Canadian dollar relative to its U.S. counterpart has risen in recent weeks on expectations that the Bank of Canada will finally raise its key interest rate. (Patrick Doyle/Bloomberg) If you're planning a summertime trip to the U.S., keep a close eye on the loonie next Wednesday. That's when the Bank of Canada is widely expected to increase interest rates , a move that generally attracts foreign
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