Forex
Canadian Dollar Tumbles Amid Soaring US Yields
The Canadian dollar continues to slide despite a brief pause in US Treasury yield growth. The greenback is trading higher across the board, driven by soaring US Treasury yields and stalled talks between Iran and the US.
US Fed officials have offered mixed views on future rate hikes ahead of today's employment report, with some policymakers calling for further tightening and others arguing against it.
The market is bracing itself for a potential drop in jobs growth from August's 162,000 to 90,000, which could impact the Canadian dollar. Meanwhile, oil traders seem unfazed by increased US military presence in the Middle East.