The USD/CAD pair visits the psychological figure of 1.4000 in Thursday’s European session for the first time in more than four years.
USD/CAD climbs above 1.4000 as Donald Trump would be able to implement policies smoothly. Trump’s policies would force the Fed to slow down its rate-cut cycle. The BoC is expected to cut interest rates again by 50 bps. The Loonie asset strengthens as the US Dollar extends its rally on firm expectations that President-elected Donald Trump will be able to implement trade and fiscal policies smoothly.
How do the decisions of the Bank of Canada impact the Canadian Dollar? The Bank of Canada has a significant influence on the Canadian Dollar by setting the level of interest rates that banks can lend to one another. This influences the level of interest rates for everyone. The main goal of the BoC is to maintain inflation at 1-3% by adjusting interest rates up or down. Relatively higher interest rates tend to be positive for the CAD.
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