Open Demo Account
Home / Market Update / Forex Market / USD/CAD Declines Following BoC’s Policy Decision

USD/CAD Declines Following BoC’s Policy Decision

M. Ali 20 January, 2021 10:17 pm Forex Market, Market Update

The U.S. Dollar (USD) declined on Wednesday against its Canadian counterpart (CAD), following the release of the Bank of Canada’s (BoC) policy statement.

In its meeting earlier today, the BoC decided to maintain its main rate unchanged at 0.25% and to keep the current pace of bond purchases at CAD 4 billion per week.

The USD/CAD pair is trading lower for the day by around 0.70% at 1.2648.

The pair has been moving today in a range between 1.2606 and 1.2743.

Tags

Check Also

AUD Plummets to Five-Year Low as China’s Tariff Bombshell Rocks Global Markets

In a dramatic twist of global economic fortunes, the Australian dollar has crashed to its …

This site contains information and opinions for the purpose of providing only general information and can not be relied upon. The information and opinions contained in this Site shall in no way constitute an offer or solicitation to buy, sell or subscribe to any investment product. Users of this site shall bear any risks arising from the use of any information, opinion, program, service or material. Noor Trends reserves the right to make any change to the Site, the information, opinions, materials, products, programs, services or prices (if any) at any time without notice.
All copyrights reserved Noor Trends