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fxJun 10, 2026, 12:49 PM

Canadian Dollar Rises as US CPI Miss Fails to Boost USD, BoC in Focus

The Canadian Dollar strengthened against the US Dollar on Wednesday after softer-than-expected US inflation data weighed on the greenback, while markets await the Bank of Canada's interest rate decision.

USDCAD

The Canadian Dollar (CAD) gained ground against the US Dollar (USD) on Wednesday as traders reacted to the latest US Consumer Price Index (CPI) data. The inflation report failed to provide a boost for the greenback, allowing the loonie to recover earlier losses.

Market attention now turns to the Bank of Canada's (BoC) upcoming interest rate decision. Investors are assessing how the central bank will balance domestic economic conditions with the evolving US policy outlook.

Initial support for USDCAD has emerged near recent lows, with further CAD strength possible depending on the BoC's tone regarding future rate moves.

Source: FXStreet Forex News