The USD/CAD pair is currently trading around the 1.3575 area, showing little movement. This comes as the US dollar weakens due to a dovish stance from the Federal Reserve, leading to selling pressure on the currency.
Investors are reacting to the Fed’s cautious outlook on the economy, prompting them to sell off their USD holdings. This has contributed to the flatlining of the USD/CAD pair around the 1.3575 level.
The market sentiment remains cautious as traders await further developments in the currency pair. The dovish Fed stance has influenced the selling bias towards the USD, impacting its performance against the Canadian dollar.
Overall, the USD/CAD pair continues to hover around the 1.3575 area as investors digest the latest news and data. The focus remains on the Federal Reserve’s monetary policy and its impact on the US dollar.