Geopolitical risks from US-Iran tensions push the Euro lower against the Canadian Dollar for a fifth straight session.
The Euro extended its decline against the Canadian Dollar, trading near 1.6080 in European hours as escalating US-Iran tensions fueled risk aversion. Investors shifted away from the EUR amid concerns over potential oil supply disruptions, benefiting the commodity-linked CAD.
EUR/CAD has fallen for five consecutive sessions, reflecting broader market unease. The pair previously traded above 1.6200 last week before geopolitical risks intensified, weighing on risk-sensitive currencies.
No immediate market reaction data was provided, but the trend underscores heightened demand for safe-haven assets and oil-linked currencies.