The Bank of Canada’s Rate Statement and Overnight Rate decision landed at 13:45 UTC on 2 September 2026, and the Canadian dollar strengthened broadly in response. The largest reaction came in CADJPY, which climbed 0.5% in the 105 minutes since the release.
Where the CAD moved
CADJPY led the move, rising from 114.1095 to 114.6805, a gain of 0.5%.
GBPCAD slipped 0.456%, easing from 1.8773 to 1.8687 as the loonie firmed against sterling.
EURCAD fell 0.434%, moving from 1.6119 to 1.6049, while USDCAD dropped 0.373% from 1.3899 to 1.3847.
AUDCAD declined 0.365% to 0.9925 from 0.9961, and NZDCAD softened 0.269%, drifting from 0.8115 to 0.8093.
What the reaction shows
The move was uniformly CAD-positive across every pair on our feed. The Canadian dollar gained ground against the yen, pound, euro, US dollar, Australian dollar and New Zealand dollar alike.
The strongest reaction showed up in CADJPY, where the CAD-positive move combined with yen weakness to produce the day’s biggest swing. Against the majors, the reaction clustered in a tighter band between roughly 0.27% and 0.46%.
The consistency of direction points to a CAD-driven response rather than a one-off cross move, with the broad-based strength concentrated in the crosses where the Canadian dollar was on the buy side.
Descriptive market news from the ForexBullion Research Team. Not investment advice.
