© Reuters. The USD/CAD is lower, in view of the decision of the FOMC
Investing.com – The u.s. dollar lost ground against its canadian counterpart on Wednesday, after the release of inflation in the u.s. dull, while sentiment on the greenback remained vulnerable before the political decision is very much expected from the federal Reserve later in the day.
The USD / CAD down 0.12 per cent to 1,2851 at 9.30 am (13.30 GMT).
Figures have shown that inflation of consumer prices in the United States had increased in November, while the base data are remote unexpectedly.
Sentiment on the greenback was also vulnerable after a democratic candidate has won a seat in the u.s. Senate in Alabama, reducing the majority in the senate already narrowly republican.
The reduction of the majority in the Senate could make it more difficult for president Donald Trump to implement plans for tax reform and other economic policies.
The Fed should raise interest rates at its two-day meeting that concludes Wednesday and is expected to tighten its policy two to three times next year, but concerns about moderate inflation could change outlook for 2018.
The aussie was steady against the euro, with EUR / CAD at 1.5110.