USD/CAD clings to gains near 1.3850 as BoC to continue aggressive rate-cut stance – FXStreet

The USD/CAD pair is holding onto its gains near the 1.3850 level as the Bank of Canada (BoC) is expected to continue its aggressive rate-cut stance. The BoC has been proactive in cutting interest rates in response to the economic impact of the COVID-19 pandemic. Investors are closely monitoring the central bank’s actions as they look for clues on the future direction of the Canadian dollar. The USD/CAD pair is likely to remain volatile in the near term as market participants assess the BoC’s next moves.