The Canadian Dollar weakens against the USD, driven by falling oil prices and a shift in Fed expectations.
USD/CAD climbed to 1.3740 during Asian trading on Friday, extending its winning streak to eight consecutive days. The Canadian Dollar (CAD) faces pressure due to its correlation with energy markets, as oil prices dip.
The pair has gained steadily amid expectations of a Federal Reserve policy shift, contrasting with the Bank of Canada’s stance. Prior sessions saw USD/CAD trading near 1.3700, reflecting broader USD strength.
No immediate market reaction was specified, but the trend underscores CAD’s vulnerability to commodity price fluctuations and monetary policy divergence.