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USD/CAD Recovers From Lowest Level in Seven Months

M. Ali 27 August, 2020 11:18 pm Forex Market, Market Update

The Canadian Dollar (CAD) rose against the US Dollar (USD) on Thursday to its highest level in around seven month.

The USD/CAD pair is trading lower by 0.15% at 1.31249, after trading earlier as low as 1.3101, its lowest level since mid-January.

The CAD gave up some of its earlier gains due to the decline of oil prices, while the USD did not receive much support from the recent remarks by the Federal Reserve Chair.

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