The Canadian dollar weakens as traders await U.S. Federal Reserve minutes, keeping the USD/CAD pair near its highest level since mid-April.
The USD/CAD pair remains near a five-week high, trading just above 1.3700 in the Asian session on Wednesday. Dip-buyers stepped in, halting a late pullback from the 1.3775 region, the highest level since mid-April.
The Canadian dollar continues to face pressure as market focus shifts to the upcoming FOMC minutes. A bullish U.S. dollar underpins the pair, with traders awaiting clues on future Fed policy moves.
Spot prices show limited volatility, reflecting cautious sentiment ahead of the Fed release.