The USD/CAD currency pair continued its decline for a second consecutive session, trading around 1.3740 during the Asian hours on Tuesday. This movement is largely attributed to growing expectations of Federal Reserve easing, which has weakened the U.S. dollar against its Canadian counterpart. Traders are closely watching the implications of monetary policy shifts on exchange rates.
Adding to the downward pressure on the USD/CAD exchange rate are rising oil prices, which bolster the Canadian dollar, given Canada's status as a significant oil exporter. As oil markets strengthen, the Canadian dollar gains traction, enhancing its appeal in forex trading. Market participants are now keen to see how these factors will influence future trading sessions and the overall dynamics of the currency pair.
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Data Source: FX Killer Analysis Team Updated: 2025-12-23 04:12
Disclaimer: This article is for reference only and does not constitute investment advice. Forex trading involves risks; please make decisions carefully.