The USDCAD pair is plunging to nearly 1.3800 as the US dollar takes a nosedive during Monday’s European session. This marks the lowest point the pair has reached in six months, primarily due to the US dollar’s poor performance against its counterparts. The situation worsens as US President Donald Trump raises concerns about the Federal Reserve’s stability, further impacting market sentiment.

Investors are closely watching the developments as the Canadian dollar, also known as the Loonie, takes advantage of the US dollar’s weaknesses. The looming Fed issues contribute to market volatility, pushing more traders toward the Canadian dollar as a safer bet. As the political climate in the US becomes increasingly uncertain, the implications for the USDCAD will be significant in the days ahead. Market experts anticipate that any further instability in the US dollar could lead to even greater rallies for the Loonie.