# Canadian dlr hits near 5-month low as BoC pauses rate hikes | Reuters

> The Canadian dollar fell to a near five-month low of about 1.38 per U.S. dollar after the Bank of Canada held its rate at 4.5% and became the first major central bank to pause its tightening. Fed Chair Jerome Powell reiterated that U.S. rate hikes could be higher and faster.

- Date: 2023-03-08 · published 2023-03-08T12:00:00.000Z
- Category: macro · region Canada · magnitude low
- Page: https://feedsoft.ai/events/37095-canadian-dlr-hits-near-5-month-low-as-boc-pauses-rate-hikes-reuters
- Commodities: [Canadian Dollar (CAD per USD)](https://feedsoft.ai/c/USDCAD.md)

## Why it matters

A wider expected gap between Fed and BoC rates favors a stronger U.S. dollar and a weaker loonie, which raises the cost of Canadian imports and of U.S. dollar-priced feed inputs bought from Canada.

## Read by commodity

- USDCAD: bullish ▲

## Sources

- reuters.com: https://www.reuters.com/markets/currencies/canadian-dollar-hits-4-month-low-boc-leaves-rates-hold-2023-03-08/

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Data from Feedsoft AI (https://feedsoft.ai/). For information only; not investment advice.