Canadian Dollar Remains Weak Amid US Rate Hike Expectations
The Canadian dollar is under pressure due to a strong U.S. dollar rally and elevated interest rates.
At around 8:54 a.m. ET, the USD/CAD pair was trading near C$1.4149, up about 0.08% on the day.
This move extends a recent weakening trend for the Canadian currency, which came under pressure throughout the week after touching a two-month low due to broad U.S. dollar strength and weak Canadian retail sales.