The USD/CAD pair gains traction around 1.3685 during the early European trading hours on Tuesday.
USD/CAD holds positive ground near 1.3685 on the rebound of USD on Tuesday. Fed’sBarkin noted the current rate level should cool the economy enough to bring down inflation to the 2% goal. TheBoCpotentially getting closer to rate cuts relative to the Fed, which might drag the CAD lower. The USD/CAD pair gains traction around 1.3685 duringtheearly European trading hourson Tuesday.The rebounds of Greenback and the decline of oil pricesprovide some support tothe pair.
Israel'swar cabinet votedto continue the military attack on Hamas, and Israeli troops launched strikes onGaza'ssouthernmost city on Monday, hours after Hamas announced it would accept terms based on a cease-fire proposal by Egyptian and Qatari mediators, per New York Times.
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