- USD/CAD remains depressed at the lowest level in nine months after falling the most in a week.
- US Dollar licks its wounds after snapping three-day uptrend despite hawkish testimony of Fed Chair Powell.
- WTI seesaws around two-week high after notable rally on softer US Dollar, hopes of more Oil demand.
- Risk catalysts eyed for clear directions, Powell’s testimony 2.0 in focus.
USD/CAD stays on the back foot at the lowest levels since September 2022, after refreshing the yearly low with the biggest daily fall in a week the previous day. That said, the Loonie pair licks its wounds near 1.3160 as markets seek more clues to extend the latest fall amid firmer Oil price and the US Dollar weakness.
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