The USD/CAD pair has struggled to gain significant ground, currently navigating near a three-day low of 1.4360 during European trading sessions on Monday. This cautious stance is attributed to ongoing selling pressure against the US Dollar as investors await the Federal Reserve’s upcoming monetary policy decision on Wednesday.

Market participants are particularly sensitive to the Fed’s moves, and this pivotal moment may sway the USD/CAD rate significantly. While the Loonie faces some challenges, the overall dynamics could shift as traders respond to forthcoming announcements.

Understanding the linkage between central bank policies and currency movements will be crucial for engaging in the USD/CAD market effectively. Keep an eye on the upcoming Fed meeting, as its outcomes will likely dictate the pathway for this pair.