EUR – The single currency fell to a one-month low on Tuesday, pressured by concerns that rising tensions over Ukraine could prompt Russia to curb energy supplies to Europe.
CAD – The Canadian dollar strengthened on Tuesday, supported by strength in oil prices as WTI reclaimed $85 per barrel and as BoC rate hike bets continued to rise.
Commenting on this week’s BoC meeting, Reuters stated that “Canada’s central bank could raise interest rates at a policy announcement on Wednesday for the first time since October 2018, in an effort to tamp down inflation. Money markets see chances of a hike at about 65%.”
CAD – The Canadian dollar strengthened on Tuesday, supported by strength in oil prices as WTI reclaimed $85 per barrel and as BoC rate hike bets continued to rise.
Commenting on this week’s BoC meeting, Reuters stated that “Canada’s central bank could raise interest rates at a policy announcement on Wednesday for the first time since October 2018, in an effort to tamp down inflation. Money markets see chances of a hike at about 65%.”
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