Canadian Dollar Strengthens Against The Greenback After Bank of Canada Raises Policy Rate

01:28 PM EDT, 10/28/2026 (MT Newswires) -- The Canadian dollar strengthened against its US counterpart Wednesday afternoon after the Bank of Canada raised its policy rate for the first time in three years. The greenback was last seen down 0.06% to CA$1.4037. The 10-year US Treasury yield ticked up 2.7 basis points to 5.018% while 30-year bonds edged up 1.4 basis points to to 5.319%. Oil prices jumped Wednesday afternoon amid reports that the US and Israel were planning to launch a short, intense campaign against Iran after the US mid-term elections. According to the Wall Street Journal, President Trump had warned "several" Gulf countries of the plan. West Texas Intermediate December futures benchmark jumped 3.1% to $103.05 per barrel. December Brent crude futures climbed 1.8% to $115.91 per barrel. Comex gold futures for December fell 0.5% to $4,054.80 per ounce on last look. Investors are awaiting the US Federal Reserve's interest rate decision at 2.00 pm ET. The Feds are expected to keep rates steady.