Loonie falls, shrugs off strong data
Canadian dollar fell against greenback today, shrugging off an unexpected strong economic data, amid wide anticipation for the US Federal Reserve decision.
The Canadian economy released its reading for the CPI, which fell by 0.1% last month, better than forecasts of a drop by 0.2%.
Which comes amid markets anticipation for the US Fed rate decision later today, with forecasts of a 25bp cut to 2.0%, for the second time this year.
Chairman Jerome Powell will hold a press conference to comment on the decision.
President Trump ordered the Treasury Secretary Steven Mnuchin to impose new sanctions on Iran due to its involvement in the sabotage attacks on Saudi Arabia.
As of 16:09 GMT, CAD/USD fell by 0.3% to $0.7531, with a high of $0.7557 and a low of $0.7523.
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