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fxJun 22, 2026, 6:13 PM

Canadian Dollar Slides to 14-Month Lows Despite Hot Inflation, Oil Rebound

The Canadian dollar hit fresh 14-month lows as trade war concerns overshadowed a strong inflation print and a rebound in crude oil prices.

USDCAD

The Canadian dollar weakened to its lowest level in 14 months, defying expectations that a hot inflation report and rising crude oil prices would support the commodity currency.

Typically, higher inflation and a stronger oil price are bullish for the loonie. However, escalating trade war fears have taken precedence, driving the currency lower against the US dollar.

Source: FXStreet Forex News