Canadian Dollar Rebounds From Lows
The Canadian dollar rose from a two-week low against the U.S. currency as higher oil prices and month-end hedging flows supported the loonie. Investors are now awaiting the upcoming Bank of Canada interest rate decision.
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The Canada dollar rose 0.3% to 1.3855 against its United States counterpart on Monday afternoon, recovering from a two-week low. The currency rebound was driven by month-end hedging flows and rising oil prices amid geopolitical tensions involving Iran over the weekend. The move comes ahead of a widely anticipated Bank of Canada interest rate decision.
