Investing.com - The U.S. dollar edged higher against its Canadian counterpart on Wednesday, re-approaching a 15-month peak after the release of positive U.S. jobs data, although investors remained cautious ahead of the Federal Reserve’s policy decision due later in the day.
USD/CAD hit 1.3740 during early U.S. trade, the session high; the pair subsequently consolidated at 1.3730, adding 0.13%.
The pair was likely to find support at 1.3647, Tuesday’s low and resistance at 1.3759, Tuesday’s high and a 15-month high.
Payroll processing firm ADP said non-farm private employment rose by 177,000 last month, just above forecasts for an increase of 175,000. The economy created 255,000 jobs in March, down from a previously reported increase of 263,000.
Later Wednesday, the Fed was widely expected to hold interest rates, but investors were awaiting any potential hints on the pace of future rate hikes.
The loonie was steady against the euro, with EUR/CAD at 1.4988.
Sentiment on the euro remained vulnerable ahead of the second round of the French presidential election on Sunday.
Centrist candidate Emmanuel Macron and his far-right opponent Marine Le Pen were to face each other in a final televised debate on Wednesday evening.