The USD/CAD pair did not have any solid directions and swung through the Asian meeting on Wednesday in a close trading group above the mid-13100s. After the Fed Chair Jerome Powell's dovish message, the US Dollar regained some of the downward spins from February 5 and was seen to increase its support.
The commodity-linked foreign currency-Loonie, however, was supported by a good increase in the price of oil, with the rallying of crude oil in WTI reaching $ 56,00 per barrel. It maintained the main movement.
This pair with the second day of affidavits before the Congress by Fed Chairman Jerome Powell could provide some catalyst and contribute to Wednesday's significant trading opportunities.
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