Canadian Dollar Strengthens on Easing Fed Rate-Hike Bets
USD/CAD drew sellers near 1.3910 in early European trading Friday as cooler US inflation data tempered aggressive Federal Reserve tightening expectations.
USDCAD
USD/CAD attracted sellers around 1.3910 during early European trading on Friday. The US dollar weakened against the Canadian dollar as cooler US inflation data tempered aggressive Federal Reserve rate-hike expectations.
The move reflects a firmer Canadian dollar as markets reassess the pace of Fed tightening. Traders shifted away from aggressive rate-hike bets, putting downside pressure on the pair.
Source: FXStreet Forex News