The US Dollar depreciated against the Canadian Dollar, following the BOC Rate Statement release on Wednesday at 15:00 GMT. The USD/CAD exchange currency rate lost 14 pips or 0.11% after the release. The Greenback continued trading at the 1.2810 level against the Loonie after the release.
Bank of Canada released Canadian Overnight Rate data, which came out in line with the expectations of 0.25%.
According to the official release: "The Bank of Canada today maintained its target for the overnight rate at the effective lower bound of ¼ percent, with the Bank Rate at ½ percent and the deposit rate at ¼ percent. The Bank is maintaining its extraordinary forward guidance, reinforced and supplemented by its quantitative easing (QE) program, which continues at its current pace of at least $4 billion per week."