USD/CAD Price Forecast: Prepares for fresh rally above 1.3700
The post USD/CAD Price Forecast: Prepares for fresh rally above 1.3700 appeared on BitcoinEthereumNews.com. The USD/CAD pair trades 0.12% higher to near 1.3695 during the European trading session on Tuesday. The Loonie pair rises as the US Dollar (USD) outperforms its peers amid fears that the war between the United States (US) and Iran could resume due to the absence of a breakthrough in their negotiations. As of writing, the US Dollar Index (DXY), which tracks the Greenback’s value against six major currencies, trades 0.3% higher to near 98.20. On Monday, US President Donald Trump said that the counterproposal delivered by Iran against the one-page peace proposal was a “stupid proposal” and lacked Tehran’s decision on pursuing its nuclear ambitions. Trump added, “Ceasefire is on life support.” Though the Canadian Dollar (CAD) underperforms the US Dollar (USD), the former trades firmly against its other peers as elevated oil prices have improved its appeal. Currencies from economies,