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

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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.

What else is happening in Treasury?

Treasury

Icelandic Holding Company Festi Issues ISK1 Billion Bill

Festi (FESTI.IC) issued a new six-month bill with a nominal value of 1 billion Icelandic kronur, according to a Tuesday release.The Icelandic holding company issued the bill at a flat interest rate of 8.65%, with settlement on Sept. 22.Festi plans to list the bill on Nasdaq Iceland's main market.

$FESTI.IC
Treasury

Vår Energi Prices Offering of Three Senior Notes

Vår Energi (VAR.OL) said Tuesday that it priced its offering of three senior notes, with settlement expected on Sept. 22, 2026.The offering includes $750 million of 5.5% senior notes maturing on Sept. 22, 2029, along with $750 million in 5.75% senior notes due on Sept. 22, 2031. It also covers $1 billion of senior notes carrying an annual fixed coupon of 6.125% and will mature on Sept. 22, 2036.The upstream oil and gas company earmarked the proceeds to fully repay its existing senior notes due 2027, for general corporate purposes and to pay transaction fees and expenses.

$VAR.OL
Treasury

Guosen Securities to Pay Annual Interest on 3.8 Billion Yuan Bonds

Guosen Securities (SHE:002736) will pay the annual interest on its 3.8 billion yuan, three-year corporate bonds carrying a 1.96% coupon on Thursday.Pre-tax interest is set at 19.60 yuan per 10 bonds for the interest period running from Sept. 17, 2025, to Sept. 16, 2026, according to a Tuesday filing with the Shenzhen Stock Exchange.The payment will be distributed to bondholders as of the Sept. 16 record date.Shares of the securities company were down nearly 1% in recent trade.

SHE:002736