Canadian Dollar Rises on Rate Hike Bets
The Canadian dollar rebounded from a three-week low against the U.S. dollar on Wednesday. Investors increased bets on a Bank of Canada rate hike after officials highlighted inflation risks.
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The Canada dollar rebounded 0.4% to 1.3840 per USD/CAD on Wednesday afternoon, bouncing from a three-week low. The move followed a Bank of Canada rate decision highlighting persistent upside risks to inflation. Policymakers left the key rate at 2.25%, but signaling potential hikes increased rate expectations for the coming months.
