Canadian Dollar Strengthens Amid U.S. Dollar Weakness
The Canadian dollar surged 0.5% against the U.S. dollar, marking its strongest level since early January. This gain is driven by U.S. dollar weakness amid geopolitical tensions.
Insights:
The Canadian dollar surged 0.5% against the U.S. dollar, reaching its strongest level since January 2, 2026. By January 23, the loonie traded at 1.3715 per U.S. dollar, equivalent to 72.91 U.S. cents, and touched an intraday high of 1.3705. This marks the currency's largest weekly gain since May, with a 1.5% increase over the week.
