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fxAug 17, 2026, 2:02 AM

USD/CAD falls for third day as softer dollar and higher oil support loonie

USD/CAD extended its decline for a third consecutive session, trading near 1.3870 in Asian hours on Monday as a weaker US dollar and rising oil prices supported the Canadian dollar.

USDCAD

USD/CAD traded near 1.3870 during Monday’s Asian session, marking a third consecutive daily decline. The Canadian dollar strengthened as the US dollar lost ground against major peers.

Sentiment on the greenback was pressured by softer-than-expected US economic data and shifting central bank expectations. At the same time, higher oil prices provided additional support to the commodity-linked loonie.

That combination kept the pair on the defensive, extending the recent move lower in early week trade.

Source: FXStreet Forex News