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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.

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