USD/CAD. Analysis and Forecast
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The USD/CAD pair is showing a modest recovery from levels below 1.3600, retracing most of the previous day's losses, supported by a rebound in the U.S. dollar.In addition, concerns over supply disruptions in the Middle East are driving a sharp rise in crude oil prices, which have reached five-month highs.Since the Canadian dollar is a commodity-linked currency, its value is sensitive to oil prices. Along with the reduced likelihood of further rate cuts by the Bank of Canada and expectations
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