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fxJun 22, 2026, 1:59 PM

USD/CAD Holds Near April Highs Despite Stronger Canadian CPI

The Canadian Dollar failed to rally on stronger-than-expected inflation data, leaving USD/CAD little changed near 1.4165, its highest since April.

USDCAD

USD/CAD traded little changed on Monday, hovering around 1.4165 after a brief dip following the release of stronger-than-expected Canadian inflation data. The pair remains near levels not seen since April, suggesting the Canadian dollar continues to struggle despite the positive economic reading.

Market participants had expected a more pronounced CAD rally on the inflation surprise, but the lack of follow-through indicates lingering headwinds for the loonie, possibly tied to broader USD strength or domestic growth concerns. The pair's resilience near recent highs keeps the focus on the 1.4200 resistance zone.

Source: FXStreet Forex News