Canadian Dollar Weakens, USD/CAD Rises to 1.4210
USD/CAD extended gains for a third consecutive session, trading near 1.4210 as the US dollar held steady amid renewed geopolitical tensions.
USDCAD
The Canadian dollar weakened against its US counterpart on Tuesday, with USD/CAD climbing for the third straight day. During European trading hours, the pair was hovering around the 1.4210 mark.
The US dollar found support from fresh geopolitical tensions in the Strait of... (details withheld), which helped the greenback hold its ground. Higher oil prices, typically supportive for the Canadian dollar, were insufficient to reverse the pair's upward momentum.
Traders will watch for further developments that could influence risk sentiment and the dollar's trajectory.
Source: FXStreet Forex News