# C$ rebounds as Wall Street rallies, BoC signals more tightening

> The Canadian dollar edged higher on Wednesday, rebounding from its weakest level in nearly eight weeks as the Bank of Canada raised interest rates to a 14-year high and investor sentiment improved. The loonie traded 0.1% higher at 1.3135 to the U.S. dollar.

- Date: 2022-09-07 · published 2022-09-07T12:00:00.000Z
- Category: macro · region Canada · magnitude low
- Page: https://feedsoft.ai/events/39819-c-rebounds-as-wall-street-rallies-boc-signals-more-tightening
- Commodities: [Canadian Dollar (CAD per USD)](https://feedsoft.ai/c/USDCAD.md)

## Why it matters

Higher Canadian rates support the currency, lowering the cost of Canadian-origin feed ingredients in US dollar terms. The move is small and has little direct effect on feed commodity prices.

## Read by commodity

- USDCAD: neutral

## Sources

- reuters.com: https://www.reuters.com/markets/us/c-rebounds-wall-street-rallies-boc-signals-more-tightening-2022-09-07/

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