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Canadian dollar extends weekly decline on wider yield spreads https://t.co/d0DjV12Fmr https://t.co/YWwYwgA0Qs
USD has broadly strengthened since last Friday, November 8, with $GBP, $EUR, and $CAD depreciating the most vs. USD. The $KRW was strongest vs. USD with a 0.185% return, while the $GBP was weakest vs. USD with a -2.345% return. #Forex https://t.co/SQb4bFspIA
Canadian dollar extends weekly decline on wider yield spreads https://t.co/URRy5aThpZ via @Reuters https://t.co/xJRiaRL5xu
The US dollar (USD) has surged to above CAD 1.40 for the first time since March 2020, marking a significant milestone in the foreign exchange market. This rise comes in the context of a broader strengthening of the dollar, which has gained approximately 3% since the recent US elections. Notably, the Canadian dollar (CAD) is the only G10 currency that has not declined by at least 2% since the elections. In contrast, other currencies such as the euro (EUR), Japanese yen (JPY), and Mexican peso (MXN) have seen the dollar strengthen against them. The Canadian dollar's recent performance has been characterized by a breach of key psychological levels, extending its weekly decline attributed to wider yield spreads. As of the latest reports, the Canadian dollar continues to face pressure amid these market dynamics.
