USD/CAD refreshes day high above 1.3720 as investors turn cautious ahead of Fed policy – by Sagar_Dua24 USDCAD Oil BOC Fed Inflation
USD/CAD is hovering near day's high around 1.3720 amid anxiety among investors as they await Fed policy.Oil price has corrected to near $66.30 as the PBoC maintains the status quo.has printed a fresh intraday high at 1.3725 in the Asian session. The upside in the Loonie asset has been fueled by a recovery move from the US Dollar Index and a corrective move in the oil price.
US equities are facing severe heat led by deepening fears of global banking turmoil and anxiety among investors ahead ofpolicy. In a recent poll by Reuters, 76 of 82 economists believe that the US Federal Reserve would raise its policy rate by 25 basis points to the range of 4.75-5% following the March Federal Open Market Committee meeting.
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