Forex: USD/CAD rises above 0.9900
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USD/CAD
FXstreet.com (Córdoba) - The dollar strengthened across the board and rose to fresh 2-week highs versus its Canadian counterpart as risk aversion increased during the European session.
USDCAD managed to rise above the 0.9900 mark and recently reached its highest in 2 weeks at 0.9909. At time of writing, USDCAD is trading at the 0.9900/05 area, recording a 0.5% gain on the day.
"The US dollar is also making new highs for the week against the Canadian dollar. For the fourth day running the US dollar is setting higher lows and higher highs against the Loonie, and is now flirting with the CAD0.9900", says the BBH analyst team. "The near-term risk extends toward CAD1.00".
USDCAD managed to rise above the 0.9900 mark and recently reached its highest in 2 weeks at 0.9909. At time of writing, USDCAD is trading at the 0.9900/05 area, recording a 0.5% gain on the day.
"The US dollar is also making new highs for the week against the Canadian dollar. For the fourth day running the US dollar is setting higher lows and higher highs against the Loonie, and is now flirting with the CAD0.9900", says the BBH analyst team. "The near-term risk extends toward CAD1.00".
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