USD/CAD rises to 1.3660 as US Dollar moves higher ahead of FOMC minutes

The USD/CAD pair moves higher to 1.3660 in Wednesday’s American session.

USD/CAD moves higher to 1.3660 amid caution ahead of FOMC minutes. Fed officials emphasize keeping interest rates restrictive for a longer period. Trades raise bets in support for BoC early rate cuts. The Loonie asset gains as the US Dollar rises amid caution ahead of the release of the Fed eral Open Market Committee minutes, which will be published later the day.

Despite the expected decline in the US Consumer Price Index data for April, Fed policymakers support for continuing a restrictive interest rate stance as a one-time decline in price pressures is insufficient to build confidence that the progress in the disinflation process has resumed.

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