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fxJul 6, 2026, 3:26 AM

Canadian Dollar Weakens Despite Higher Oil Prices, USD/CAD Edges Higher

The Canadian Dollar weakened on Monday, pushing USD/CAD higher to around 1.4210, though gains may be capped as rising oil prices could support the loonie.

USDCAD

The Canadian Dollar continued its decline against the US Dollar on Monday, with USD/CAD trading near 1.4210 during the Asian session. The pair has gained for a second consecutive day.

However, further upside for USD/CAD may be limited. The commodity-linked Canadian Dollar could find support from higher crude oil prices, which typically benefit Canada's export-driven economy.

Source: FXStreet Forex News