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Forex

USDCAD drops to 1.3322 after the Bank of Canada makes a surprise 25 bp rate hike

MarketsFN Team

•1 min read
USDCAD drops to 1.3322 after the Bank of Canada makes a surprise 25 bp rate hike

The Bank of Canada today increased its target for the overnight rate to 4¾%. USDCAD is testing the support in area 1.3320, in case of validation of selling pressure next short term supports in area 1.3265 and 1.3230. Possible buying activity above 1.343.

Today the loonie dollar is the best performer in the G7 group of FX against the US dollar.

#Forex#USD/CAD
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