Canadian Dollar Rises on US-Iran Ceasefire Hopes
The Canadian dollar rose 0.4 percent to 1.3780 per U.S. dollar on Thursday as news of a potential ceasefire extension in the Middle East improved global sentiment. While domestic data showed a widening current account deficit, the loonie tracked gains in equity markets and crude oil prices.
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The USD/CAD fell 0.4% to 1.3780 on Thursday as optimism over a Middle East ceasefire deal boosted risk appetite. The move marks the largest single-day gain for the Canadian currency since April 30. The currency had touched a six-week low earlier in the session at 1.3869.
