Forex
USD/CAD Rebounds Amid Middle East Tensions and Oil Price Volatility
The USD/CAD exchange rate rebounded on Tuesday after touching an intraday low of 1.3760, but was still down 0.18% on the session.
The Canadian Dollar had held some gains earlier in the day due to rising Middle East tensions, but risk aversion constrained further progress even as oil prices stayed firm.
Rising tensions between the US and Iran are having a direct impact on the market, with Iranian officials stating that they could target energy infrastructure across the Gulf if further attacks occur.
The demand for safe-haven assets offered some support to the US Dollar, while oil's strength also reflected the ongoing US-Iran conflict.