The Canadian Dollar recovered from multi-year lows after Canada and the U.S. agreed on measures to prevent the imposition of trade tariffs.
The Canadian Dollar can rally if the U.S. softens its stance on import tariffs later today.
The Canadian Dollar is at risk of further decline as the Bank of Canada will opt to slash interest rates if the U.S. imposes 25% tariffs on Canadian imports.
The Canadian Dollar is under pressure against the British Pound. The midweek Bank of Canada interest decision will prove the week's calendar highlight.