Loonie Struggles Near Four-Week Highs Against Dovish US Rate Outlook
The USD/CAD pair remains near its four-week high, trading around 1.4235 in Asian hours on Thursday.
This comes as the Canadian Dollar struggles under a dovish Bank of Canada stance, softer oil prices, and ongoing trade frictions.
Elevated U.S. yields and geopolitical risks are supporting the Greenback, maintaining upside risks for USD/CAD.
The Federal Reserve's reduced expectations for an October interest rate increase, despite elevated bond yields, adds to the bullish outlook for the pair.