The USD/CAD pair held its ground above 1.4350, driven by sustained strength in the US Dollar. A combination of robust economic data and market anticipation surrounding the Federal Reserve’s FOMC minutes has kept the greenback in demand. Investors are closely monitoring these developments for insights into the Fed’s next moves on interest rates.
Market sentiment remains tilted toward the dollar amid expectations that the Fed may maintain its hawkish stance. The Canadian Dollar, meanwhile, has been unable to counter the greenback’s dominance despite stable oil prices, traditionally a supportive factor. Traders are now focusing on the FOMC minutes set to release later today, which could provide further clues on the policy outlook and impact on the USD/CAD trajectory.
