Can dollar rate today

Reuters CAD climbs to 9-month high as market disbelieves the Fed TORONTO (Reuters) -The Canadian dollar strengthened to a nine-month high against its U.S. counterpart on Thursday as oil prices jumped and investors questioned whether the Federal Reserve will lift interest rates further as the central bank has signaled. The U.S. dollar tumbled against a basket of major currencies and U.S. Treasury yields fell, one day after the Fed left its benchmark rate on hold while projecting two more increases by the end of 2023. "The market sees the economy weakening and they don't think the Federal Reserve is going to be able to continue to raise interest rates," said Marc Chandler, chief market strategist at Bannockburn Global Forex LLC. Reuters Canadian dollar notches 4-month high as Wall Street rallies The Canadian dollar strengthened to a four-month high against its U.S. counterpart on Tuesday as oil prices climbed and U.S. inflation data bolstered bets for a pause in the Federal Reserve's interest rate hiking campaign. The S&P 500 and Nasdaq added to recent gains after data showed consumer prices rose modestly in May, boosting hopes that the Fed could skip raising interest rates at the end of its policy meeting on Wednesday. "The firmer risk backdrop has lent further support to CAD as the S&P 500 Index surpasses its highs from last August," said George Davis, chief technical strategist at RBC Capital Markets.

USD/CAD is the forex ticker that represents the US Dollar-Canadian Dollar currency pair. The USD/CAD rate, as indicated on the live chart, shows traders how many Canadian Dollars are required to buy one US Dollar. Follow the USD/CAD chart for live prices and stay up to date with the latest USD/CAD news, forecasts and analysis. Our expert industry insights will give you the edge to conduct thorough fundamental and technical analysis to trade this popular currency pair.