28.10 - A combination of supporting factors assisted USD/CAD
- by George Solotarov
The pair gained some traction on Wednesday and built on the previous day's late rebound of over 40 pips from the 1.3142 area. The uptick was supported by a combination of factors, though remained limited ahead of the latest monetary policy update by the Bank of Canada on Wednesday. Investors remain concerns that renewed lockdown measures to curb the second wave of the coronavirus infections could prove detrimental for the already fragile global economic recovery. Adding to this, the lack of progress in the US stimulus talks further dampened the market mood.