CAD Surges to Two-Month High as Oil Prices Fuel Economic Optimism
The Canadian Dollar (CAD) has reached a two-month high against the US Dollar (USD), fueled by strong oil prices and a healthy Canadian employment market.
The USD/CAD pair has been consolidating its recent losses, trading below mid-1.3900s during the Asian session on Tuesday.
Traders are cautious ahead of crucial US inflation figures, with the US-Iran standoff continuing to fuel supply concerns and support crude oil prices.