Nov 15, 12:10 AM

US Dollar Surges Above CAD 1.40, Up 3% Since Election, CAD Faces Weekly Decline

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.

#US #Canadian #Japanese #Mexican

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