Meanwhile, concerns about a further escalation in tensions between the USD and China extended some support to the greenback's safe-haven status. The pair once again attracted some dip-buying near the very important 200-day SMA and was last seen trading near session tops, around the 1.3530 region. However, a weaker tone around crude oil prices undermined the commodity-linked currency – the loonie – and helped limit the fall. Some renewed USD weakness turned out to be one of the key factors that exerted some downward pressure on the USD/CAD pair. The US dollar struggled to preserve its early gains, instead witnessed some aggressive selling on the back of a strong rally in the shared currency post-ECB announcement. The USD/CAD pair dropped to fresh three-month lows, around the 1.3470-65 region in the last hour, albeit quickly recovered over 60-70 pips thereafter.
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