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Canadian dollar handed position, won after the election, and decreased at the beginning of the U.S. session, as attention shifted from relief in respect of soft policy of the Federal Reserve to concerns about "financial cliff" and the debt ceiling.
On the one hand, an Obama victory means continuing to stimulate the economy and the dollar's decline. On the other hand, the balance of power in the Senate and House of Representatives, which is dominated by representatives of different parties, indicates that the market expects the uncertainty before the talks about "fiscal cliff" and the debt ceiling.
Later on Wednesday, the Greek Parliament will vote on a package of austerity measures and structural reforms, without which Greece is experiencing financial difficulties, it may be unable to access aid funds. Uncertainty about this vote on Wednesday is likely to increase the overall uncertainty in the market.
At the moment the pair USD / CAD rose to the level of 0.9950
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