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USD/CAD trims gains after FOMC minutes

FXStreet (Córdoba) - USD/CAD dropped from 1.1330 to 1.1309 after the release of the FOMC minutes, reaching the lowest price since the Asian session and trimmed gains; but after the initial impact, it was moving back toward 1.1340.

USD declines after minutes

The minutes showed no major surprises. Official gave a non pessimistic view on the economic, signaling a limited impact from the global slowdown. Also mentioned no rush to implement a normalization in monetary policy amid subdued inflation. Greenback dropped modestly across the board, extended daily losses versus European currencies, and trimmed gains against commodity currencies.

After bottoming USD/CAD rebound and it was trading at 1.1320/25 or 0.20% up for the day, recovering from 1.1259 (November 18 low). Earlier peaked at 1.1356, reaching the highest level since last Friday.

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