The Canadian Dollar weakens for a second day amid falling oil prices and a stronger US Dollar, pushing USD/CAD to 1.4230.
The Canadian Dollar (CAD) extended losses against the US Dollar (USD) for a second consecutive session, trading near 1.4230 in the Asian session on Tuesday. Lower oil prices continued to pressure the commodity-linked currency, amplifying its decline.
The pair has gained ground as crude prices, a key export for Canada, retreated from recent highs. The US Dollar, meanwhile, remained supported by broader market sentiment and relative economic strength.
No immediate market reaction was reported, though the move reflects ongoing concerns over energy sector volatility and its impact on the Canadian economy.