Today the Canadian dollar reached 1.26682469 for every US dollar at early hours in the American session; rising 0.3% to how it was previously thanks to the optimistic words of Bullard of the Fed.
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James Bullard, president of the Federal Reserve System located in the city of St. Louis, said he considered the United States view of growth very optimistic; what can generate an increase in terms of investment.
Regarding monetary policy, Bullard expressed different concerns about the speed with which he went with respect to the investments of the rates, cataloging it as fast . In addition, he argues that this will not be a problem unless there is data to support this information.
The dollar recovers due to the optimistic judgment of the Fed
The Federal Reserve System raised an optimistic judgment regarding the US economy at the time the dollar fell on Monday; however, he recovered by returning to the reins again .
Jerome Powell – the new president of the Federal Reserve – has a key policy speech scheduled to be announced on Tuesday where he will publish his first testimony before the people of Congress. The time of the present speech is at 13:30 GTM; however, the text of the testimony will be exposed to all citizens 90 minutes before the president speaks before Congress.
In addition, the vital support of the USD / CAD is that 1.2627 Canadian dollars are equivalent to one US dollar and, in this way, the American dollar and Canadian dollar are allowed to be established between 1.2755 – 1.2912 Canadian dollars. per US dollar in the next few days.