USD/CAD Falls as Canadian Dollar Strengthens on USD Weakness
USD/CAD snapped its winning streak, trading near 1.4230 in Asian hours as the Canadian dollar gained ground despite a hawkish Federal Reserve outlook.
USDCAD
The USD/CAD pair halted its upward run that began on June 10, trading around 1.4230 during the Asian session on Thursday.
The Canadian dollar strengthened as the US dollar declined, even as market expectations for further Federal Reserve interest rate hikes intensified.
The move suggests that USD weakness outweighed the hawkish Fed narrative, driving the pair lower.
Source: FXStreet Forex News