US Dollar Climbs to Six-Week High Against The Loonie as Federal Reserve Lifts Interest Rate

02:23 PM EDT, 09/16/2026 (MT Newswires) -- The greenback rose to a six-week high against the Canadian dollar after the US Federal Reserve raised interest rates by 25 basis points, the first time since July 2023. The move was widely expected. In its statement, the Federal Reserve noted that "inflation remains elevated. Today's policy action will support a timelier return to the Committee's 2 percent goal." The US dollar was last seen up 0.4% to CA$1.3963, the highest since Aug. 7. US 10-year treasury yields edged lower to 4.951% after topping 5% on Tuesday. Comex gold futures for December were up 1% to $4,376 per ounce. Oil prices fell Wednesday afternoon after US Energy Secretary Chris Wright told CNBC on Tuesday that the Saudi pipeline outage would be fixed in days. West Texas Intermediate October futures benchmark fell 3.3% to $102.40. November Brent crude futures edged down 3% to $105.46.