The Canadian Dollar (CAD) softened on Monday, falling behind an uptick in the Greenback as investors jostle for position ahead of the Federal Reserve’s (Fed) upcoming rate call later in the week.
The Canadian Dollar eased against key counter-currencies to start the new week. Canada is sparsely represented on the economic calendar this week. Mid-tier Canadian data leaves the CAD at the mercy of key central bank appearances. The Canadian Dollar softened on Monday, falling behind an uptick in the Greenback as investors jostle for position ahead of the Fed eral Reserve’s upcoming rate call later in the week.
The CAD fell back roughly one-fifth of one percent against the Greenback, while backsliding one-third of one percent against the recovering Japanese Yen. Gains remain thin, with the CAD rising a scant one-sixth of one percent against the Euro and the New Zealand Dollar. USD/CAD continues to march up the charts, chalking in a ninth straight gain as the Canadian Dollar slides against the Greenback. The pair has risen 2% since hitting a near-term low of 1.
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