"U.S. Bank: Fed's Pause on Rate Hikes to Boost Canadian Dollar Rebound

Published: Aug 30, 2023 13:15

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"U.S. Bank: Fed's Pause on Rate Hikes to Boost Canadian Dollar Rebound - U.S. Bank strategists Howard Du and Carlos Capistran said in a report that the Canadian dollar could rise after a sharp fall in August if the Federal Reserve keeps interest rates unchanged at its next meeting. They believe that the short-term USD/CAD exchange rate will rebound from oversold levels to 1.33 Canadian dollars to 1 US dollar, which is favorable to the Canadian dollar in the long run."

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