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June 2, 2025

USDCAD Hits Yearly Low Below 1.3700 As Dollar Weakens

The Canadian Dollar shows strength, fueled by strong GDP data, which increases expectations of an aggressive Bank of Canada meeting on Wednesday. Meanwhile, the US Dollar continues to drop against major currencies. Its decline results from risk aversion triggered by President Trump’s unpredictable trade policies, growing concerns about potential tariffs, and persistent worries about US debt levels. Market participants are revisiting the “sell America” sentiment, leading to bearish activity in the dollar’s valuation. Investors are closely monitoring developments that may influence USD fluctuations in the coming weeks.

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