USD/CAD Approaches Multi-Year Highs Above 1.4400 Amidst Risk Aversion
USD/CAD retraces its recent losses, edging higher towards 1.4467, marking levels not seen since March 2020. The pair trades near 1.4410 during the Asian hours on Friday, reflecting increased risk aversion in markets. Lower oil prices contribute to this upward movement, complicating the narrative for the Canadian dollar (CAD). As traders analyze these dynamics, focus sharpens on potential price movements. The ongoing geopolitical tensions further underscore the volatility of the currency pair, prompting traders to adjust their strategies accordingly.