© Reuters. The greenback is advancing against the loonie
Investing.com – The u.s. dollar rose slightly Tuesday in the face of its canadian counterpart during a session calm, expectations of more rate increases this year have continued to support the greenback, although the rise in oil prices has also stimulated demand.
The progression of the USD / CAD is 0.14% to 1,2442 at 9.30 am (13.30 GMT).
The greenback remained supported after the president of the San Francisco Fed, John Williams, had said Saturday that the Fed should increase interest rates three times this year, given that the economy will benefit from tax cuts.
These comments occur a day after the president of the Cleveland Fed, Loretta Mester, has announced that it is expecting a rise in interest rates this year, thanks to strong economic growth in the United States and low unemployment.
Meanwhile, the canadian dollar continued to benefit from the surge in oil prices, while the market rebalances itself gradually.
The loonie rose against the euro, with EUR / CAD down 0.17% at 1,4841.