The Canadian dollar had weakened past the 1.37 per USD level, approaching the one-year low of 1.39 touched on November 1st, as a hawkish outlook by the Fed continued to pressure the loonie.
Fed officials stated that it was still too early to declare victory over inflation.
Additionally, oil prices extended their decline, stripping support for the Canadian currency, as the Chinese economy signaled weakening demand from the world’s top consumer of crude.
Fed officials stated that it was still too early to declare victory over inflation.
Additionally, oil prices extended their decline, stripping support for the Canadian currency, as the Chinese economy signaled weakening demand from the world’s top consumer of crude.