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Canadian dollar hits 14-month low
The Canadian dollar fell to its lowest level in 14 months against the US dollar, declining by 0.1% to 1.4162 after touching 1.4193 during the session, marking the weakest since April 2025. Meanwhile, oil prices rose by 2.6% to reach $74.60 per barrel following progress in negotiations with Iran and stable shipping in the Strait of Hormuz. Data also showed that inflation in Canada increased to 3.2% in May, helping to ease pressures on the current account deficit. Additionally, the US dollar continued to gain amid tensions regarding the trade agreement between the United States, Canada, and Mexico.
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