The USD/CAD pair remains under some selling pressure for the third consecutive day and trades near a three-month low, just above mid-1.3700s during the first half of the European session on Friday. Spot prices remain on track to register heavy losses for the fourth week in a row – also the sixth in the previous seven – and seem vulnerable amid a combination of negative factors.
Crude oil prices hold steady near a three-week high as traders continue to price in the geopolitical risk premium amid the US-Iran standoff over the Strait of Hormuz. Adding to this, Yemen’s Iran-backed Houthi militant group claimed to have targeted eight oil tankers…
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