Will the BOC bring a challenge to the CAD traders?
The Bank of Canada (BOC) will release its rate statement alongside the monetary policy report during its meeting on January 22 at 17:00 MT time.
Greenback reaches fresh 3-year minimums on euro strength
On Wednesday, the evergreen buck sank to fresh three-year minimums versus other key currencies because the common currency kept broadly strengthening, while the end of the American government shutdown didn’t manage to support the US currency.
In 2018 the common currency has been strongly backed by soaring optimism the European Central Bank is going to indicate a quicker exit than anticipated from its stimulus program.
The currency pair EUR/USD rallied 0.13% being worth 1.2314, which is off a three-year maximum of 1.2335 reached overnight.
The British pound generally gained, with GBP/USD soaring 0.19% hitting 1.4032.
The Japanese yen and the Swiss franc rallied too, with USD/JPY losing 0.34% hitting 109.97 and with USD/CHF heading south 0.32% being worth 0.9545.
The Japanese yen kept getting support from the Bank of Japan's decision on Tuesday not to change its monetary policy.
Additionally, USD/CAD dipped 0.12% showing an outcome of 1.2405.
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