USD/CAD licks its wounds at six-week low above 1.3400 despite firmer Oil price – by anilpanchal7 USDCAD Oil Inflation Fed Currencies
posted the biggest daily jump in 11 months the previous day after the Organization of the Petroleum Exporting Countries and its allies led by Russia, known as OPEC+, announced a surprise output cut. prints mild gains around 102.20 after falling the most since March 22 on Monday. The DXY’s latest rebound could be linked to the corrective bounce in the US Treasury bond yield. That said, the US 10-year and two-year Treasury bond yields lick their wounds around 3.42% and 3.
Russian Foreign Minister Sergei Lavrov raised fears of escalating Moscow-Brussels tussle by saying, “The European Union has "lost" Russia.” The policymaker also added that Moscow will deal with Europe in a tough fashion if need be. Furthermore, the US-China tension is also on the table as Beijing keeps reiterating its dislike for the US-Taiwan ties but Washington seems to ignore it.
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