Canadian dollar hits seven-week low on yield spreads
The Canadian dollar dropped to a nearly seven-week low against the US currency as yield gaps widened. Markets weighed shifting interest rate expectations and trade uncertainties.
Insights:
The Canada dollar fell to 1.4075 per U.S. dollar on Tuesday afternoon, hitting its lowest level in nearly seven weeks. The drop came as widening yield differentials overshadowed a hawkish policy stance from domestic monetary authorities.
