USD/CAD climbs back closer to 1.3500 amid softer oil prices, broad-based USD strength – by hareshmenghani USDCAD Recession Fed Inflation Currencies
ean session. Spot prices reverse the previous day's downfall, with bulls now awaiting a sustained move beyond the 1.3500 psychological mark before placing fresh bets.
The USD remains well within the striking distance of a six-week high touched last Friday and continues to draw support from expectations that thewill stick to its hawkish stance. In fact, the markets are pricing in at least a 25 bps lift-off at the next two FOMC meetings in March and May, which pushes the US Treasury bond yields higher and underpins the buck.
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