Canadian Dollar Slips as Fed Hawkish Stance Boosts USD
USD/CAD rises for a second day, hovering near 1.4230 as the US Dollar gains strength on expectations of a hawkish Federal Reserve.
USDCAD
The Canadian Dollar weakened on Tuesday, pushing USD/CAD higher for a second consecutive session. The pair traded around 1.4230 during European hours.
The US Dollar gained support as traders priced in a more hawkish stance from the Federal Reserve, lending strength to the greenback against its Canadian counterpart.
No additional catalysts were noted from Canada, leaving the pair driven by USD momentum.
Source: FXStreet Forex News