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fxJul 10, 2026, 4:19 AM

USD/CAD Declines as Fed Rate Hike Expectations Diminish

The Canadian Dollar gains ground against the US Dollar as fading hopes for a Federal Reserve rate hike weigh on the greenback. USD/CAD trades near 1.4145 in early European trading on Friday.

USDCAD

The USD/CAD pair traded lower on Friday, slipping to around 1.4145 during the early European session. The move was driven by a weaker US Dollar, which lost momentum as market expectations for a rate increase from the Federal Reserve receded.

With the Fed appearing less likely to tighten policy further, the US Dollar softened against the Canadian Dollar. This shift in sentiment has provided support for the loonie, pushing the pair to the downside.

Traders are now monitoring upcoming economic data from both countries for further direction on interest rate differentials.

Source: FXStreet Forex News