Canadian dollar rebounds as Fed keeps rate cuts on the table

Halifax Regional Police release Dartmouth suspect’s name and photo | SaltWire #news #novascotiaTORONTO - The Canadian dollar strengthened against its U.S. counterpart on Wednesday, clawing back some of the previous day's sharp decline, as the Federal Reserve's signaling about prospects for interest rate cuts was not as hawkish as some investors had feared.

The U.S. central bank on Wednesday held interest rates steady and signaled it is still leaning towards eventual reductions in borrowing costs, but put a red flag on recent disappointing inflation readings and suggested a possible stall in the movement towards more balance in the economy.

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