US Dollar to Canadian Dollar Exchange Rate Climbs Above 1.3800 as Bank of Canada Maintains Steady Policy and Markets Anticipate Hawkish US Federal Reserve Actions

The US Dollar to Canadian Dollar exchange rate has recently climbed above 1.3800, a level not seen since April 2018. This is due to a combination of the Bank of Canada maintaining a steady policy and markets anticipating a more hawkish stance from the US Federal Reserve.

The Bank of Canada has been keeping interest rates steady since October 2018, when it raised them for the fifth time since 2017. This has helped to keep the Canadian Dollar relatively strong against the US Dollar. The Bank of Canada has also been cautious in its approach to monetary policy, citing global economic uncertainty and the potential for further trade tensions.

In addition, markets are expecting the US Federal Reserve to take a more hawkish stance with regards to monetary policy. The Fed is expected to raise interest rates in December, which would make the US Dollar more attractive to investors. This could lead to further appreciation of the US Dollar against the Canadian Dollar.

The recent rise of the US Dollar to Canadian Dollar exchange rate is a sign of the strength of both currencies. The Bank of Canada’s steady policy and the anticipation of a more hawkish stance from the US Federal Reserve have both contributed to this rise. However, it is important to note that exchange rates can be volatile and can change quickly. Therefore, investors should keep an eye on any potential changes in the exchange rate and adjust their portfolios accordingly.

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• Source: Plato Data Intelligence: PlatoAiStream