Canadian dollar strengthens as investors weigh peace deal prospects
The Canadian dollar strengthened slightly against the U.S. dollar amid rising hopes for a peace deal in the Middle East. Investors are also awaiting insights from a Bank of Canada official regarding interest rate policies. The currency's movement reflects broader market trends, including a decline in oil prices and shifts in bond yields.
- ▪The Canadian dollar was trading 0.1 percent higher at 1.3800 per U.S. dollar.
- ▪Nicolas Vincent, External Deputy Governor of the Bank of Canada, is scheduled to speak on the labor market.
- ▪Iran's negotiators are in talks with Qatar regarding a potential peace deal with the U.S.
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ShareSave for laterPlease log in to bookmark this story.Log InCreate Free AccountThe Canadian dollar edged higher against its U.S. counterpart on Monday as hopes rose of a deal to end the war in the Middle East and ahead of a speech by a Bank of Canada policymaker that could offer clues on the interest rate outlook.The loonie was trading 0.1 per cent higher at 1.3800 per U.S. dollar, or 72.46 U.S. cents, after moving in a range of 1.3796 to 1.3823. On Friday, the currency touched a near six-week low at 1.3824.“The near-term focus for the CAD remains centered on the outlook for relative central bank policy, given the material widening in interest rate differentials that has reflected a softer repricing of the BoC’s path along with a firming in the outlook for the Fed (U.S.
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