Investing.com – The slumped towards the U.S. greenback on Wednesday after the Financial institution of Canada left charges unchanged.
jumped 0.6% to 1.3159 as of 10:51 AM ET (13:51 GMT).
The, citing commerce conflicts because the resilience of the Canadian financial system “will probably be more and more examined.”
The second half of the yr is predicted to develop at a slower tempo attributable to commerce danger and a weakening power sector, the financial institution mentioned. It boosted its 2019 progress forecast to 1.5% from 1.3%, however reduce its 2020 progress forecast to 1.7% from 1.9%.
In the meantime, the U.S. greenback was flat as traders waited for the Federal Reserve’s financial coverage resolution at 2 PM ET (18:00 GMT). The central financial institution is predicted to chop charges for the third time this yr, however the focus will stay on Chairman Jerome Powell’s press convention and if he hints at future cuts.
The , which measures the buck’s energy towards a basket of six main currencies, was unchanged at 97.488. The safe-haven Japanese yen was flat with at 108.88.
Commerce tensions remained unsure after Chile mentioned it’s canceling the Asia-Pacific Financial Cooperation summit subsequent month attributable to ongoing protests. U.S. President Donald Trump and Chinese language President Xi Jinping had been anticipated to satisfy on the sidelines and probably signal part one in every of a commerce deal.
The greenback hit a 16-year excessive towards the Chiliean peso. was up about 1.5%.
Elsewhere, sterling was flat after the U.Ok. Parliament voted to carry an early common election on Dec. 12, as Prime Minister Boris Johnson is betting on a Conservative win to move his Brexit invoice. rose 0.1% to 1.2872 whereas was up 0.1% to 1.1115.
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