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fxJun 16, 2026, 3:44 PM

USD/CAD Holds Near 1.3990 as Fed Uncertainty and Soft Oil Cap Gains

The Canadian dollar remains near recent lows as USD/CAD trades around 1.3990, little changed on the day amid cautious markets ahead of the Federal Reserve's policy decision.

USDCAD

The Canadian dollar is holding near recent lows, with USD/CAD trading around 1.3990 on Tuesday. The pair shows little change as markets adopt a cautious tone ahead of the Federal Reserve's monetary policy meeting.

Pressure on the Canadian dollar comes from soft oil prices and ongoing uncertainty around the Fed's outlook. Traders are waiting for clarity on interest rate direction, which could set the next move for the pair.

Source: FXStreet Forex News