Batis Exchange
The Canadian dollar strengthened against the U.S. dollar on Wednesday, supported by a sharp rise in oil prices following renewed geopolitical tensions in the Middle East.
Gold prices moved lower on Wednesday after U.S. President Donald Trump stated that an interim agreement intended to end the conflict with Iran was no longer in effect.
The Canadian dollar lost ground against the US dollar on Tuesday as lower oil prices and renewed demand for the greenback pushed the USD/CAD exchange rate higher for a second straight session.
Some forecasts suggest the Canadian dollar could rise to approximately US73 cents, while others believe it may reach US75 cents by the end of the year if U.S. interest rates decline and Canadian rates move higher, narrowing the gap between the two countries.
