USD/CAD drops below 1.30 on upbeat Canadian GDP figures, recovers losses as USD rebounds

Canadian GDP grows 0.5% in May following April's 0.1%. Core-PCE price index figures from the U.S. disappoint. The initial reaction drags the USD/CAD pair to a fresh multi-week low below 1.30. The USD/CAD pair recorded a quick 50-pip drop with the initial reaction to the data releases from Canada and the United States.

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