Financial Post: What the Bank of Canada's second jumbo rate cut means for the Canadian dollar

“Bad news is, to a significant degree, already priced into the exchange rate, and traders have been bracing for a widening in the gap between U.S. policy rates and their Canadian equivalents for months,” Karl Schamotta, chief market strategist at Corpay Currency Research, said in a note following the Bank of Canada’s decision to slice its borrowing rate to 3.25 per cent from 3.75 per cent. Financial Post: What the Bank of Canada's second jumbo rate cut means for the Canadian dollar