The Canadian dollar strengthened against its U.S. counterpart on Wednesday as the Bank of Canada left interest rates on hold and the Federal Reserve’s move to continue with its easing campaign weighed on the greenback.

The loonie was trading 0.4% higher at 1.3795 per U.S. dollar, or 72.49 U.S. cents, after touching its strongest intraday level since September 22 at 1.3785.

The U.S. dollar fell against a basket of major currencies after the Federal Reserve lowered interest rates in a widely expected move. Chicago Fed President Austan Goolsbee joined Kansas City Fed President Jeffrey Schmid in arguing the policy rate should be left unchanged.

“Markets had feared a more profound divergence would be on display, given that the October meeting minutes showed considerable differences of opinio

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