The US dollar has been rising against the Canadian dollar since the past trading session. After hawkish federal funds rate tamper statement from the Federal Reserve chairman Jeremy powell concerning the inflation breeze that is blowing across the US economy.
In addition market speculators are on the look for a rate hike soon as the US recent CPI data printed a bearish notion to the dollar performance.
This a higher than expected rate hike will enable the dollar to remain strong across the major market.
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