Canadian Dollar Hits Fresh Low Since Late March Despite Oil Rally
USD/CAD touched a new high since late March during Asian trading on Monday, as the Canadian dollar weakened even as oil prices rallied.
USDCAD
The USD/CAD pair reached a fresh high since late March during the Asian session on Monday, extending its recent gains. The move comes despite a rally in oil prices, which usually supports the Canadian dollar.
Analysts note that the pair is building on its recent strength, suggesting further upside momentum in the near term. No specific catalyst was cited for the move beyond broader market dynamics.
Source: FXStreet Forex News