"The Canadian dollar is acting like a petrocurrency once again, but we don’t think this will last," says Karl Schamotta, Chief Market Strategist at Corpay.
The Canadian Dollar could strengthen if the conflict in the Middle East intensifies.
The Pound continues its march higher against the Canadian Dollar and our Week Ahead Forecast model won't fight the trend.
The British Pound could be looking to register its strongest monthly close against the Canadian Dollar since 2018 this week.
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