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fxJul 6, 2026, 2:42 PM

Canadian Dollar Falls to 1.4230 as Firm US Dollar Overrides Oil Support

USD/CAD extends its advance for a second day, trading around 1.4230 on Monday, up 0.20%. Despite rising oil prices, the Canadian dollar dips as the US dollar remains firm.

USDCAD

The Canadian dollar weakened on Monday, with USD/CAD rising to around 1.4230, a gain of 0.20% for the session. This marks the second consecutive day of gains for the pair.

Despite an uptick in oil prices—a key export for Canada—the loonie struggled against a broadly firm US dollar, which remained supported by expectations of tighter monetary policy.

Source: FXStreet Forex News