USD/CAD tumbles to near 1.3800 as investors see Fed rates peak for now
The USD/CAD pair falls vertically after a short-lived pullback to near 1.3850 in the European session. The Loonie asset faces an intense sell-off as the US Dollar extends downside on expectations that the Federal Reserve (Fed) is done with hiking interest rates for now.
S&P500 futures generated significant gains in the London session, portraying a decent improvement in the risk appetite of the market participants. US equities were heavily bought on Wednesday as the Fed kept interest rates unchanged in the range of 5.25-5.50%. Fed Chair Jerome Powell kept expectations of further policy-tightening alive as the US economy is resilient due to robust consumer spending and tight labor market conditions.
The USD/CAD pair falls vertically after a short-lived pullback to near 1.3850 in the European session. The Loonie asset faces an intense sell-off as the US Dollar extends downside on expectations that the Federal Reserve (Fed) is done with hiking interest rates for now.
S&P500 futures generated significant gains in the London session, portraying a decent improvement in the risk appetite of the market participants. US equities were heavily bought on Wednesday as the Fed kept interest rates unchanged in the range of 5.25-5.50%. Fed Chair Jerome Powell kept expectations of further policy-tightening alive as the US economy is resilient due to robust consumer spending and tight labor market conditions.