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fxJun 22, 2026, 4:25 AM

Canadian Dollar Hits 14-Month Low as USD/CAD Reaches 1.4190

USD/CAD extended its gains for a fifth straight day, trading around 1.4190 during Asian hours Monday and hitting a 14-month high. The pair was supported by safe-haven demand for the US dollar amid renewed US-Iran tensions and lower oil prices.

USDCAD

The Canadian dollar weakened to a 14-month low against the US dollar on Monday, with USD/CAD trading around 1.4190 in Asian hours. The pair hit a fresh 14-month high of 1.4191, extending its gains for the fifth consecutive session.

The move was driven by safe-haven demand for the US dollar as concerns over a US-Iran peace deal resurfaced. Additionally, lower oil prices weighed on the Canadian dollar, given Canada's reliance on crude exports.

Traders will watch for further developments on the geopolitical front and any shifts in oil prices that could influence near-term direction for the loonie.

Source: FXStreet Forex News