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USD/CAD sits near one-year high, eyes 1.3900 ahead of the FOMC decision
The USD/CAD pair attracts some dip-buying during the Asian session on Wednesday and inches back closer to its highest level since October 2022 touched the previous day. Spot prices currently trade around the 1.3885 region and continue to draw support from a combination of factors. Crude Oil prices languish near a two-month low despite worries that the ongoing conflict between Israel and Hamas could lead to a disruption in supply from the Middle East. Adding to this, the disappointing release of the monthly Canadian GDP print on Tuesday continues to undermine the commodity-linked Loonie and act as a tailwind for the ... (full story)