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USD/CAD sets a new 2024 high as pushes towards 1.42
Since the last update here noted the USD/CAD just failing to push above the existing high yesterday morning, it has fallen and rebounded quite markedly. Yesterday afternoon, as US yields slipped, the USD/CAD did drop just below the 1.4100 handle, down from an earlier session high, at 1.4175. Well, it rebounded well into the US close and lifted very close to the current 2024 high, at 1.4178. The USD/CAD closed in the US last night at 1.4171. Earlier today during the Asian session, the US dollar then took out that 1.4178 level and it is pushing to set a new high on the year just now. The USD/CAD has just lifted to 1.4195. That is also the highest it has traded in over 4 years. Naturally, 1.42 looks like the next round number now, but it remains to be seen if sellers will emerge around that level. The USD/CAD is currently trading at 1.4189
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