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fxJun 10, 2026, 6:36 AM

Canadian Dollar Holds Near Lows Ahead of US CPI, BoC Decision

The Canadian Dollar edged up against the US Dollar on Wednesday, with USD/CAD trading near 1.3940 after hitting year-to-date highs at 1.3969. Markets await US CPI data and the Bank of Canada's monetary policy decision.

USDCAD

The Canadian Dollar (CAD) saw a minor gain against the US Dollar (USD) on Wednesday, with the USD/CAD pair trading near 1.3940. This comes after the pair reached year-to-date highs at 1.3969 earlier.

Traders are focused on upcoming US Consumer Price Index (CPI) data, which could influence the Federal Reserve's policy path. Additionally, the Bank of Canada (BoC) is set to announce its monetary policy decision, adding to the uncertainty for the loonie.

The pair remains near recent lows as the market waits for the key events.

Source: FXStreet Forex News