The USD/CAD currency pair saw a decline for the second consecutive session, trading around the 1.3660 exchange rate during the Asian trading hours on Monday. The slip comes as oil prices gain traction amid escalating tensions in the Middle East, impacting the Canadian dollar positively.
As crude prices rise, the CAD often strengthens against the USD, highlighting the sensitivity of this currency pair to global oil market fluctuations. Investors are closely monitoring geopolitical developments, as further tensions could lead to additional volatility in the exchange rate. Currently, USD/CAD is hovering near the critical level of 1.3650, indicating a potential shift in market sentiment.
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Data Source: FX Killer Analysis Team Updated: 2025-12-29 04:48
Disclaimer: This article is for reference only and does not constitute investment advice. Forex trading involves risks; please make decisions carefully.