USD/CAD remains in negative territory at 1.4120 as the US Dollar weakens on cooling Fed rate hike bets.
The USD/CAD pair is experiencing downward pressure as market sentiment shifts regarding Federal Reserve monetary policy. The US Dollar is weakening specifically due to the diminishing probability of a rate hike in October, which has left the pair trading in negative territory near 1.4120 despite a slight recovery from its initial bearish gap.
The pair is trading around 1.4120 in negative territory during Asian hours on Monday.
The USD is under pressure due to fading expectations that the Federal Reserve will implement a rate hike in October.
The USD/CAD pair trades lower at 1.4120 during Monday's Asian session, struggling to recover from a bearish opening gap. The US Dollar remains under pressure as market participants scale back expectations for a Federal Reserve interest rate hike in October.
The pair is trading lower primarily because the US Dollar is weakening as market expectations for a Federal Reserve interest rate hike in October continue to fade.