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TORONTO (Reuters) - The Canadian dollar rose against the U.S. dollar on Wednesday morning, lifted in part by a broadly weaker greenback on expectation the U.S. Federal Reserve will emphasize it is in no hurry to raise rates.
Many expect the U.S. central bank, in concluding its two-day meeting, to dampen expectations for interest rate increases in the near term.
That expectation, "tends to erode any support the dollar had been getting over the last little while from the greenshoots and the talk of inflation or early rate hikes," said David Watt, senior currency strategist at RBC Capital Markets.
Read the full article here.
Many expect the U.S. central bank, in concluding its two-day meeting, to dampen expectations for interest rate increases in the near term.
That expectation, "tends to erode any support the dollar had been getting over the last little while from the greenshoots and the talk of inflation or early rate hikes," said David Watt, senior currency strategist at RBC Capital Markets.
Read the full article here.