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fxJul 28, 2026, 2:30 PM

Canadian Dollar Edges Higher Despite Oil Weakness, USD/CAD at 1.4105

The Canadian dollar strengthened slightly on Tuesday against a broadly softer U.S. dollar, though lower crude prices capped the move. USD/CAD traded around 1.4105 ahead of the Fed decision.

USDCAD

The Canadian dollar ticked higher on Tuesday, pushing USD/CAD down about 0.14% to the 1.4105 area. The loonie gained as the U.S. dollar softened across the board, though a dip in oil prices limited further upside.

The pair, however, remained close to its recent highs, reflecting a cautious tone in the market. Traders held back from aggressive positioning ahead of the Federal Reserve’s monetary policy announcement, keeping near-term direction muted.

Source: FXStreet Forex News