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USD/CAD moves below 1.3750, extends losses despite lower crude Oil prices

From fxstreet.com

USD/CAD continues its decline for the fourth consecutive session, hovering around 1.3720 during Asian trading hours on Monday. This downward movement may be attributed to the subdued performance of the US Dollar (USD) despite the rise in US Treasury yields. However, the downside potential for the USD/CAD pair could be limited due to comments from Federal Reserve (Fed) officials hinting at a shift towards a more hawkish stance. However, the Canadian Dollar's (CAD) gains may face limitations due to lower crude Oil prices, considering Canada's status as the largest oil exporter to the United States (US). West Texas ... (full story)

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  • Category: Fundamental Analysis