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CAD Gains on Higher Oil Prices and Weaker US Dollar Amid Escalating Tensions

Guavy AI Editorial Team
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The Canadian Dollar (CAD) has been gaining ground against its US counterpart, the USD/CAD pair trading around 1.3800 in Asian hours on Thursday.

This increase is largely due to higher oil prices, as tensions between the United States and Iran remain stalled, escalating fears of supply disruptions.

Brent's risk premium remains elevated due to the geopolitical backdrop, with TD Securities warning that the conflict teeters on further escalation.

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