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fxAug 19, 2026, 4:04 AM

Canadian Dollar Strengthens as Trump Pauses Tariffs and USD Slips Before FOMC Minutes

USD/CAD met fresh supply during Asian trading on Wednesday as the Canadian dollar gained after President Trump paused 50% tariffs, while the US dollar weakened ahead of FOMC minutes.

USDCAD

USD/CAD faced renewed selling pressure in Asian trading on Wednesday. The pair’s recovery from its lowest level since June 3 stalled as it met fresh supply.

The Canadian dollar strengthened after President Trump paused 50% tariffs. At the same time, the US dollar slid ahead of the release of FOMC minutes.

Traders are watching the upcoming Fed minutes for further cues on the dollar’s direction.

Source: FXStreet Forex News