The USD/CAD pair rose on Monday due to geopolitical tensions driving safe-haven demand for the US Dollar. Reports of the President of Iran’s death and Russia’s actions in Ukraine added to market unease. Canadian Dollar traders are awaiting CPI data on Tuesday to gauge potential BoC interest rate decisions. The Fed’s stance on interest rates is also a factor, with probabilities of rate cuts fluctuating based on economic data. Fed officials are set to speak on Monday, providing insight into future policy decisions. The USD/CAD pair is influenced by these factors, making it important to monitor developments closely.
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