# Canadian dollar falls to a 20-month low after supersized interest rate hike

> The Canadian dollar fell to a 20-month low of about 75.62 US cents after the Bank of Canada announced its largest rate hike since 1998. The US dollar gained broadly after US inflation reached 9.1% in June, the highest in over 40 years.

- Date: 2022-07-14 · published 2022-07-14T12:00:00.000Z
- Category: macro · region US · magnitude medium
- Page: https://feedsoft.ai/events/40721-canadian-dollar-falls-to-a-20-month-low-after-supersized-interest-rate-hike
- Commodities: [US Dollar (Broad)](https://feedsoft.ai/c/DXY.md), [Canadian Dollar (CAD per USD)](https://feedsoft.ai/c/USDCAD.md)

## Why it matters

A stronger US dollar driven by inflation and rate expectations pressures dollar-priced commodities and can make imports more expensive for Canadian buyers.

## Read by commodity

- DXY: bullish ▲
- USDCAD: bullish ▲

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| DXY | 2021-06-16 | [Dollar jumps after Fed pulls interest rate hikes into 2023 \| Reuters](https://feedsoft.ai/events/5929-dollar-jumps-after-fed-pulls-interest-rate-hikes-into-2023-reuters.md) | +1.4% | +1.4% |
| DXY | 2018-01-25 | [Canadian dollar falls from 4-month high after Trump boosts U.S. dollar \| CBC News](https://feedsoft.ai/events/67200-canadian-dollar-falls-from-4-month-high-after-trump-boosts-u-s-dollar-cbc-news.md) | -0.3% | +0.7% |
| DXY | 2022-10-27 | [Euro falls against the dollar after ECB rate hike, U.S. data](https://feedsoft.ai/events/39360-euro-falls-against-the-dollar-after-ecb-rate-hike-u-s-data.md) | +0.7% | -2.5% |
| DXY | 2025-07-30 | [Canadian Dollar recedes after Fed rate hold — Octa](https://feedsoft.ai/events/23976-canadian-dollar-recedes-after-fed-rate-hold-octa.md) | -0.0% | -0.4% |
| DXY | 2023-10-04 | [Rand falls to lowest level against the dollar in months](https://feedsoft.ai/events/33924-rand-falls-to-lowest-level-against-the-dollar-in-months.md) | -0.8% | +0.0% |

## Sources

- barrie360.com: https://barrie360.com/canadian-dollar-falls-interest-rate-hike/

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