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TORONTO, Sept 18 - The Canadian dollar strengthened against its U.S. counterpart on Wednesday as the Federal Reserve cut interest rates by half a percentage point, but the move was limited as investors raised bets the Bank of Canada would step up the pace of its easing.
The Fed kicked off what is expected to be a steady easing of monetary policy with a larger-than-usual reduction in borrowing costs that followed growing unease about the health of the job market. Wall Street rose, bond yields eased and the U.S. dollar , opens new tab extended recent declines against a basket of major currencies.
Minutes from the BoC's rate decision earlier this month showed governing council members feeling that, if the economy failed to pick up as anticipated, it might be appropriate to lower the policy rate more quickly.
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