The Canadian dollar rose to a one-month high versus the U.S. dollar as oil prices jumped and softer-than-expected U.S. inflation data reduced expectations for additional Fed rate hikes. The move suggests near-term FX support for CAD driven by both commodity strength and a less-hawkish U.S. rates outlook.
The Canadian dollar rose to a one-month high versus the U.S. dollar as oil prices jumped and softer-than-expected U.S. inflation data reduced expectations for additional Fed rate hikes. The move suggests near-term FX support for CAD driven by both commodity strength and a less-hawkish U.S. rates outlook.
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mildly positive
Sentiment Score
0.12
