The currency pair rises toward 1.4250 after a slight pullback, nearing its highest level since early 2023.
USD/CAD advanced to 1.4210 during European trading hours Wednesday, recovering from minor losses the prior day. The pair now hovers near a 15-month high, with resistance seen at 1.4250.
Earlier this week, the pair dipped briefly but failed to sustain momentum below 1.4150. The last time USD/CAD traded at these levels was in early 2023, following a period of broad U.S. dollar strength and shifting monetary policy expectations.
No immediate market reaction was reported in the session, though traders remain focused on upcoming economic data releases from both the U.S. and Canada.