Canadian dollar reaches three-week high behind oil gains
The Canadian dollar rose to its highest level in nearly three weeks against the US dollar, supported by rising oil prices, which are one of Canada's main exports, despite increasing trade tensions between Canada and the United States. The currency climbed by 0.2% to 1.3790 Canadian dollars per US dollar, amid a market trend to overlook the tariff threats and retaliatory tariffs imposed by Canada on American goods worth $20 billion, ranging from 15% to 50%. This rise comes as the impact of the trade escalation remains weak on the economy, with a focus on rising oil prices and expectations of future restrictions on economic dependence on the United States.
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