Canadian Dollar Analysis: USD/CAD Holds Two-Month Lows Ahead of the FED and BOC Meetings

Over the past five trading sessions, USD/CAD has maintained a notable bearish bias in favor of the Canadian dollar, accumulating a decline of more than 1% in the short term as the market approaches the upcoming policy decisions from the central banks of the United States and Canada. For now, the expectation of lower rates in the United States and a neutral stance in Canada continues to support the strength of the Canadian dollar, which could keep consistent selling pressure on USD/CAD during the next trading sessions.