Canadian dollar notches 13-day high after U.S.-Iran ceasefire

The Canadian dollar strengthened to a near two-week high versus the U.S. dollar after a ceasefire agreement between the U.S. and Iran lifted investor sentiment. Eased geopolitical risk prompted a modest risk-on move in FX markets, supporting the CAD and likely reducing safe-haven demand for the USD.

Analysis

The Canadian dollar strengthened to a near two-week high versus the U.S. dollar after a ceasefire agreement between the U.S. and Iran lifted investor sentiment. Eased geopolitical risk prompted a modest risk-on move in FX markets, supporting the CAD and likely reducing safe-haven demand for the USD.