The Canadian Dollar strengthens for a second day amid rising oil prices and a softer US Dollar, pushing USD/CAD lower.
USD/CAD declined to around 1.3800 in Asian trading on Thursday, marking its second consecutive day of losses. The move reflects broader strength in the Canadian Dollar, driven by higher oil prices and a weaker US Dollar.
The commodity-linked CAD has benefited from improved oil market sentiment, as crude prices remain a key driver of Canada’s export revenue. Prior sessions saw the pair trading near 1.3850, with limited volatility ahead of the latest move.
No immediate market reaction data was provided, but the shift aligns with recent trends in energy and currency markets.