# C$ clings to Wednesday's rally, underpinned by BoC's hawkish shift | Financial Post

> The Canadian dollar held its gains on April 22, 2021, after the Bank of Canada signalled it could start raising rates in late 2022 and trimmed its bond purchases. The loonie traded near 1.2500 to the US dollar.

- Date: 2021-04-22 · published 2021-04-22T12:00:00.000Z
- Category: macro · region Canada · magnitude low
- Page: https://feedsoft.ai/events/47852-c-clings-to-wednesday-s-rally-underpinned-by-boc-s-hawkish-shift-financial-post
- Commodities: [Canadian Dollar (CAD per USD)](https://feedsoft.ai/c/USDCAD.md)

## Why it matters

A more hawkish Bank of Canada narrows the yield gap with the US and supports the loonie, which lowers the Canadian-dollar cost of US-priced feed imports. The effect on grain prices is limited.

## Read by commodity

- USDCAD: bearish ▼

## Sources

- financialpost.com: https://financialpost.com/pmn/business-pmn/c-clings-to-wednesdays-rally-underpinned-by-bocs-hawkish-shift

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