USD/CAD trades higher around 1.3800, Fed policy in focus

Dollar Strengthens Following Fed Verdict

The USD/JPY and USD/CAD currency pairs are showing moderate gains following yesterday’s meeting of the US Federal Reserve. As expected, the American central bank kept its key interest rate unchanged. However, the tone of the accompanying statement and Jerome Powell’s comments were perceived by the market as less dovish than anticipated. Fed officials reaffirmed their willingness to maintain current rates for a longer period until there is clear …

Fed hawkishness and trade both offer dollar positives - Monex Canada

CAD The combination of Fed hawkishness and an improvement in the outlook for US trade was enough to push USDCAD above 1.38 overnight, with 1.39 well in range for the pair this morning after the dollar continued to rally. We see little getting in the way of this momentum today on the domestic front, with only the Bank of Canada’s Financial Stability Report due. Our expectation is for trade risks to be front and centre, a dynamic that is likely to…

USD/CAD trades higher around 1.3800, Fed policy in focus

The USD/CAD pair rises to near 1.3800 during European trading hours on Wednesday. The Loonie pair gains as the US Dollar (USD) edges up ahead of the Federal Reserve’s (Fed) interest rate decision at 18:00 GMT.