USD/CAD Slides Amid Global Bond Yield Surge, Long-Term Support at Risk
The USD/CAD pair is trading at C$1.3839, down modestly on the day.
Global bond yields have climbed to multi-year highs, reducing risk appetite and weakening demand for the Canadian Dollar.
This shift in market sentiment has created persistent headwinds for the CAD, as investors seek safety in the US Dollar.
The pair is positioned below its key moving averages but remains slightly above long-term support levels at C$1.3835.