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Economists at MUFG Bank discuss the US Dollar outlook. Consolidation at these stronger US Dollar levels seems likely The mixed global growth backdrop remains supportive for the US Dollar at this stage.
Bank of Canada raises policy rate by 25 basis points to 4.75%. Loonie jumps across the board following the decision. USD/CAD approaching April and May lows. The USD/CAD plummet toward 1.3300 following the decision of the Bank of Canada (BoC) to raise its key interest rate taking markets off guard. The Loonie is outperforming on the back of the BoC decision.
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