India, April 16 -- The Canadian dollar strengthened against most major currencies in the European session on Wednesday, as the Bank of Canada (BoC) is expected to keep its policy rate unchanged, halting seven consecutive interest rate cuts.
Traders speculate that the central bank will keep its interest rate at 2.75 percent, ending seven straight rate reductions. The BoC Governor Tiff Macklem is scheduled to conduct a press conference after the monetary policy announcement.
The Bank of Canada is planning a halt in its easing cycle for April as trade policies need to be reevaluated due to growing global uncertainties, which are mostly caused by the White House's inconsistent stance on tariffs.
In the European trading today, the Canadian do...