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USD/CAD rises to the highest since October as Bank of Canada stays sidelined

The market was looking for a hawkish shift from the Bank of Canada today but it didn't come. Instead the central bank emphasized nascent signs of a coming slowdown and referred to previous guidance to pause rate hikes.

Looking ahead to the April 12 BOC decision, the market still sees a 27% chance of a rate hike but that has dwindled from pre-statement levels.

USD/CAD is up 54 pips today to 1.3805 with the rest of the FX market essentially flat so this is entirely a CAD-driven move... Read More

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Content Topics

Usd

Cad

Rises

Highest

Since

October

Bank

Canada

Stays

Usd cad

Sidelined

Forex

Posted: Mar 8 2023, 18:40

Author Name: forexlive

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