The Canadian Dollar (CAD) continues to weaken this week, with the exchange rate slipping further into the upper 1.38 range against the US Dollar (USD). This decline marks a continuation of the CAD's post-Christmas downturn, as traders react to a resurgence in USD strength, fueled by robust economic indicators and market sentiment favoring the greenback.
As CAD trades lower, analysts at Scotiabank highlight the impact of the USD's rebound, which is increasingly dominating the forex landscape. The shift in dynamics between the USD and other currencies, including the EUR, suggests a challenging environment for CAD traders as they navigate market volatility and adjust their positions in response to ongoing economic developments.
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Data Source: FX Killer Analysis Team Updated: 2026-01-08 15:25
Disclaimer: This article is for reference only and does not constitute investment advice. Forex trading involves risks; please make decisions carefully.