The Canadian dollar benefited from another day of increased risk appetite to gain versus most of the 16 main traded currencies and trade near parity with its U.S. counterpart.
Crude oil is providing support for the Canadian dollar to become one of the best trading currencies during the this October as the main Canadian export is rallying, helping the loonie towards parity versus the U.S. dollar, which, according to some analysts, is just a matter of time to happen.
USD/CAD traded at 1.0339 as of 19:19 GMT in a rather neutral level in the intraday, but touched 1.0267 hours earlier, the highest level in 14 months.
If you want to comment on the Canadian dollar’s recent action or have any questions regarding this currency, please, feel free to reply below.
Source: topforexnews.com
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