The Canadian dollar edged down sharply against major currencies after the releasing of Federal Open Market Committee meeting at 2:00 pm ET Wednesday. according to the minutes of the Fed's most recent policy meeting, The Federal Reserve is losing patience with the pace of an increasingly fragile economic recovery.
Many members of the Federal Reserve say additional monetary policy accommodation is likely warranted unless the economy improves substantial.
This may open the door for a highly debated third round of quantitative easing measure.
At present, the loonie is trading near more than a 2-week low of 1.2410 against the euro, fresh multi-day lows of 79.56 against the yen and 1.0394 versus the Australian dollar from yesterday's closing values of 1.2342, 80.17 and 1.0379, respectively.
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June 05, 2026 16:18 ET A busy week for economic news flow saw a slew of reports being released that reflected the trends in the U.S. labor market. In Europe, economic growth and inflation data gained attention as the European Central Bank and Bank of England head for policy session later in the month. In Asia, the monetary policy session of the Indian central bank was in focus as the country, a major oil importer, reels under the pressures of a weaker rupee and rising inflation.