Canadian Dollar Weakens as Speculators Boost Short Bets
The Canadian dollar fell to 1.3950 per U.S. dollar as net short positions reached their highest level since December. Investors are awaiting a Bank of Canada policy decision while weighing concerns over a technical recession and upcoming trade agreement reviews.
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Canada’s dollar fell to a two-month low of 1.3961 against the United States dollar on Monday. Speculators increased bearish bets to 94,111 net short contracts, the highest level since December, as investors weighed diverging interest rates and a surprise domestic technical recession. The currency's decline reflects mounting pressure from wider rate differentials and uncertainty surrounding trade reviews.
