USD/CAD keeps bounce off weekly low near 1.2950 amid softer oil prices, US PMI eyed By anilpanchal7 USDCAD RiskAppetite Oil BOC Fed
, as well as the US dollar’s reluctance to decline further, amid a quiet session.
Federal Reserve Chairman Jerome Powell’s justification for the recent rate hike, the biggest since 1994, managed to gain acceptance, at least during the first round of the Testimony on the bi-annual Monetary Policy Report. However, Powell’s rejection of the need for a heavy rate increase seemed to exert downside pressure on the greenback afterward.
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