The Canadian Dollar strengthened against the Greenback, following the Canadian Overnight Rate data release on Wednesday at 14:00 GMT. The USD/CAD currency pair lost 37 pips, or 0.28%, to continue fluctuating in the 1.3120 area.
The Bank of Canada changed their benchmark Interest Rate in line with expectations from 1.25% to 1.50%.
The governor of the Bank of Canada Stephen Poloz said, that he expect interest rate continue upward movement, and stands: “It’s evident to us that higher interest rates will be warranted, but of course we’re not in a position to say exactly how much higher or at what rate we might get there.”
