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USD/CAD holds near 1.4190 as markets price more Fed hikes

FXStreet said the US Dollar Index was up about 0.2% near 101.35, while FedWatch pointed to roughly a 60% chance of two more rate hikes this year.

Reported · Written up by our desk · Major Pairs

The US dollar was modestly higher in European trading, with USD/CAD around 1.4190, up 0.12%, according to FXStreet.

FXStreet attributed the firming in the Loonie pair to improving market confidence that the Federal Reserve will deliver two more interest rate hikes this year.

The outlet also cited the US Dollar Index, which was up about 0.16% near 101.35, and CME FedWatch data showing about a 60% probability of a quarter-to-a-percent interest rate hike at both remaining policy meetings this year.

Latest closeDollar index 101.25 ▲0.3%

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