- The dollar gained on hawkish comments from Fed policymakers.
- The Canadian dollar might gain less strength than earlier projections.
- Money markets predict that the BoC will likely start cutting rates in April.
The anticipated return of dollar strength is shaping a bullish USD/CAD weekly forecast, propelled by assertive remarks from Federal Reserve officials.
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Ups and downs of USD/CAD
USD/CAD had a bullish week, with the dollar gaining on hawkish comments from Fed policymakers. Fed Chair Powell and several other Fed policymakers got a chance to restate their commitment to lowering inflation. All these speeches came out hawkish, boosting the dollar.
Meanwhile, according to a Reuters poll, the Canadian dollar will gain less strength than earlier projections in the next year. Moreover, a slowdown…
