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Suppose that the US interest rate is 10% and the Canadian interest rate is 10%. If the US interest rate rises to 12%, what happens

Suppose that the US interest rate is 10% and the Canadian interest rate is 10%. If the US interest rate rises to 12%, what happens according to covered interest rate parity?  The forward rate, quoted as US $ per Canadian $, will  (rise, fall) and the spot rate will  (rise, fall).

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