USD/CAD retreats from over a one-week high and is pressured by a combination of factors.The USD remains on the defensive amid bets for smaller Fed rate hikes and exerts pressure.USD/CAD
The US Dollar continues to be weighed down by expectations for a less aggressive policy tightening by the Fed and acts as a headwind for the USD/CAD pair. In fact, investors now seem convinced that the US central bank will soften its hawkish stance and the current market pricing indicates a greater chance of a smaller 25 bps rate hike in February.
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