The USD/CAD pair is currently under pressure, trading below 1.3660 as rising crude oil prices bolster the Canadian dollar. Early trading today saw the US dollar react to geopolitical tensions from Israel’s attack on Iran, yet it has struggled against levels approaching 1.3600. Analysts point out that escalating oil prices are linked to concerns over potential disruptions in oil traffic through the Strait of Hormuz, impacting global supply. The dynamic interplay between oil prices and the Canadian dollar is crucial for traders navigating this pair. Understanding these influences will be integral for forecasting potential movements in the USD/CAD exchange rate.