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fxAug 11, 2026, 9:47 AM

Canadian Dollar Hovers Near Two-Month High Against USD as Oil Prices Climb

The USD/CAD pair traded around 1.3935 on Tuesday, with the Canadian dollar supported by rising oil prices.

USDCAD

The Canadian dollar remained near its strongest level in two months against the US dollar during Tuesday's session. USD/CAD was virtually unchanged on the day at 1.3935, moving only 0.03%.

A continued rise in crude oil prices, a key export for Canada, provided support for the loonie. The pair has been trading near the lower end of its recent range as commodity currencies gained against the greenback.

Traders are watching for further developments in oil markets and upcoming US economic data for directional cues.

Source: FXStreet Forex News