Loonie Touches Six-Week High as Greenback Slides

The Canadian dollar has reached its highest level in six weeks against the US dollar, trading at 1.3993 per USD or 71.46 cents USD.

This increase is attributed to the greenback's broad-based decline, which followed the Federal Reserve's decision to leave interest rates unchanged on Wednesday.

The Fed's move has sparked concerns that it may be behind the curve in addressing inflation, with some economists questioning whether the central bank's new chief is serious about containing price growth.

Sebastien Mc Mahon, chief economist at iA Financial Group, noted that markets have already been implementing some of the tightening measures that the Fed has been unwilling to deliver.