Canadian Dollar Holds Gains as Markets Brace for Fed Decision
USD/CAD consolidates around 1.4100 in Asian trade, with the Canadian dollar holding recent gains as traders turn cautious ahead of the FOMC policy announcement.
USDCAD
The USD/CAD pair was little changed near the 1.4100 handle in Asian trade as investors awaited the Federal Reserve’s policy announcement later on Wednesday.
Canadian dollar strength persisted, keeping the pair below recent highs. USD bulls remained on the sidelines, unwilling to take aggressive positions before the FOMC decision.
Market participants are watching for any changes in the Fed’s economic projections or tone that could shape near-term dollar direction. The Loonie has benefited from the cautious greenback backdrop.
Source: FXStreet Forex News