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I believe Toronto has only 3 signalized intersections where intersecting one-way roads cross. For a city of it's size and density, it's somewhat amazing Toronto doesn't have more one-way streets. You obviously don't get the same left-turn/opposing through conflicts on a one-way street.

Converting some two-way streets in the city to one-way could help improve traffic flow and reduce the amount of time drivers are delayed at red lights. Many studies have found that one-way streets help increase the average speed of traffic.