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- USD/CAD attracts buyers for the tenth straight day and draws support from a combination of factors.
- Bets for smaller Fed rate cuts assist the USD to preserve its recent strong gains to a two-month high.
- Weaker Oil prices undermine the Loonie and act as a tailwind for the pair ahead of the Canadian CPI.
The USD/CAD pair trades near its highest level since August 6 during the Asian session on Tuesday, with bulls making a fresh attempt to build on the momentum beyond the 1.3800 round-figure mark.
The US Dollar (USD) stands tall near a two-month high amid expectations for a less aggressive policy easing by the Federal Reserve (Fed) and bets for a regular 25 basis points (bps) rate cut in November. This assists the yield on the benchmark 10-year US government bond to hold steady above the 4% mark and continues to offer some support to the buck, which, in turn, is seen as a key factor pushing the USD/CAD pair higher for the tenth straight day.
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