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Canadian Dollar Forecast: USD/CAD Sell-Off Accelerating Into Support
The latest FOMC rate decision (see link above) and subsequent press conference suggested that the Fed will announce a bond tapering timetable at the November meeting, while moves in the Fed’s dot plot also suggested a rate hike in 2022 may be on the cards. The mildly hawkish outtake from yesterday’s meeting is not being felt by the US dollar today with the DXY slipping lower after rallying for the last couple of weeks. It may be that the greenback got ahead of itself going into the FOMC meeting and today’s drift lower is just balancing out the recent bullish price action. USD/CAD has been a volatile pair of ... (full story)