Canadian Dollar Gains on Middle East Peace Prospects
The Canadian dollar rose to 1.3800 per U.S. dollar on Monday as global markets rallied on hopes for a Middle East peace deal. Investors are now awaiting a speech from Bank of Canada Deputy Governor Nicolas Vincent for further clarity on the domestic interest rate path.
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USD/CAD fell 0.1% to 1.3800 on Monday as the Canadian dollar strengthened against the greenback. The move followed a near six-week low of 1.3824 reached on Friday. Investors are focusing on geopolitical developments and central bank policy shifts between Canada and the United States.
