Canadian Dollar Edges Up as Global Risk Sentiment Firms
The Canadian dollar rose to 1.3568 per U.S. dollar as hopes for Middle East peace offset a drop in oil prices. Markets are now awaiting key economic reports.
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The Canadian Dollar / U.S. Dollar exchange rate strengthened on Tuesday as improved risk appetite across global markets offset a decline in energy prices. Investors are increasingly hopeful for a resolution to the conflict involving Israel and Iran, providing a lift to the loonie.
In Canada, the currency was trading 0.1% higher at 1.3568 per U.S. dollar, or 73.70 U.S. cents, within a daily range of 1.3543 to 1.3601. The Canadian dollar has remained the top performer among Group of 10 currencies since the start of the Middle East hostilities.
