While most major currencies gained strength due to the weakness of the greenback, the Canadian dollar recorded a less encouraging performance.
This is reflected in the currency chart of the USD versus Canadian dollar currency pair which moved flat on Thursday and continued in today's trading session.
Earlier, the Federal Reserve (Fed) Chairman's dovish remarks prompted a sharp fall in the USD king and fueled a massive surge in major currencies.
However, it is different from the Canadian dollar which is only able to show a slight change in price.
Among the factors that cause this weakness is the expectation of investors that the Bank of Canada (BOC) will also implement lower interest rate increases.
Since the September policy meeting, the BOC has started to gradually reduce the rate hike from 100 basis points to 75 points and 50 points in October.
Investors are now betting that the central bank will raise rates by just 25 basis points at its meeting next week (December 7).
Canada's employment report for November at the New York session may offer further clues on the strength of the country's economy and expectations for further BOC policy setting.
