The Canadian dollar strengthened against the US dollar on Wednesday following an announcement by the Central Bank of Canada to match the market.
Global stocks set an impressive record with U.S. lawmakers (U.S.) continuing negotiations on additional stimulus to drive economic recovery affected by the outbreak of the Covid-19 epidemic.
The Central Bank of Canada is expected to maintain its benchmark interest rate at a low of 0.25%. According to strategist Benjamin Reitzes, the Central Bank's announcement will include the development of the Covid-19 vaccine and the increase in the number of Covid-19 cases, prompting the possibility of new sanctions being announced.
The US dollar depreciated by 0.16% against the Canadian currency at the exchange rate of 1.2794.
The US dollar index, which measures the greenback against the major, depreciated by 0.05% at the 90.922 exchange rate.
On the other hand, the Brexit issue is still a concern for market players as both sides have yet to find a meeting point.
UK Prime Minister Boris Johnson was a little disappointed with what had happened and warned the European Union (EU) on Wednesday that the EU's proposed request was unreasonable.
The strengthening of the GBP began to be limited to only gaining 0.57% against the US dollar as of 10.45 p.m.
