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InstaForex Loprais Team - Official participant of the Dakar rally

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InstaForex Loprais Team - Official participant of the Dakar rally

2014.09.1105:02:52UTC+00Canadian dollar climbs as traders await Fed meeting, UK referendum

The Canadian dollar edged higher Wednesday before the US Federal Reserve’s meeting next week.

The loonie traded 91.45 US cents, rebounding off lows as the US dollar weakened slightly.

"The Fed's forward guidance (that interest rates will be on hold for a considerable time after the asset purchase program ends) is expected to be changed, likely to a line that ties the expected path of interest rates to developments on inflation, employment and financial market conditions," said Camilla Sutton, Chief FX Strategist and Managing Director at Scotiabank Global Banking and Markets.

Meanwhile, the Scottish independence referendum is set on September 18. Recent surveys showed Scots preferred staying with the United Kingdom over becoming independent.

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