Canadian greenback falls to the bottom since 2020
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A broader wave of US greenback shopping for mixed with slumping oil costs and worries about Chinese language development have nudged USD/CAD above the 2022 excessive of 1.3978.
USD/CAD has tried to get by way of this degree many occasions up to now two years however hasn’t been capable of crack it. To date there hasn’t been any comply with by way of and I think it is going to be robust to interrupt 1.4000 — although with momentum kicking in above.
Final week I used to be on BNNBloomberg, making the case in opposition to the Canadian greenback.
This text was written by Adam Button at www.ubaidahsan.com.
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