Forex – USD/CAD Little Changed Ahead of Fed Policy Decision

Forex – USD/CAD Little Changed Ahead of Fed Policy Decision

© Reuters.  Greenback holds steady vs. loonie with all eyes on Fed© Reuters. Greenback holds steady vs. loonie with all eyes on Fed

Investing.com – The U.S. dollar was little changed against its Canadian counterpart on Tuesday, as sentiment on the greenback remained vulnerable ahead of the Federal Reserve’s highly-anticipated policy decision this week.

was little changed at 1.2864 by 09:30 a.m. ET (13:30 GMT).

The Fed is widely expected to raise interest rates at its two-day policy meeting that will end on Wednesday and is currently seen tightening two to three times next year, but concerns over tepid inflation could alter the outlook for 2018.

Separately, data on Tuesday showed that U.S. producer price inflation and its core reading in November.

The commodity-related Canadian dollar also benefited from an increase in on Tuesday, amid potential supply disruptions due to the in the North Sea.

The loonie was higher against the euro, with shedding 0.24% to 1.5095.

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