Canadian Dollar Edges Up as Global Risk Sentiment Firms

The Canadian Dollar / U.S. Dollar exchange rate strengthened on Tuesday as improved risk appetite across global markets offset a decline in energy prices. Investors are increasingly hopeful for a resolution to the conflict involving Israel and Iran, providing a lift to the loonie.

In Canada, the currency was trading 0.1% higher at 1.3568 per U.S. dollar, or 73.70 U.S. cents, within a daily range of 1.3543 to 1.3601. The Canadian dollar has remained the top performer among Group of 10 currencies since the start of the Middle East hostilities.