Loonie hits two-week high following U.S.-Iran ceasefire
The Canadian dollar hit a near two-week high today as a U.S.-Iran ceasefire improved risk appetite. Lower oil prices reduced bets for Bank of Canada rate hikes.
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The Canadian dollar reached a near two-week peak on Wednesday, bolstered by a significant improvement in global risk sentiment following a ceasefire agreement between the United States and Iran. This geopolitical development spurred a rally in global equities while causing a sharp correction in energy markets.
