The USD/CAD pair retreats around 25–30 pips from a one-week high set earlier this Tuesday, hitting a fresh daily low during the first half of the European session. Spot prices appear to have stalled the previous day’s recovery move from the 1.4000 psychological mark — the lowest level since June 17 — though the downside potential seems limited.
The US Dollar (USD) edges lower, snapping a three-day winning streak amid hopes for a diplomatic solution to the US-Iran conflict, and this is a key factor exerting downward pressure on the USD/CAD pair. US Secretary of State Marco Rubio maintains that Washington remains open to a diplomatic solution with Iran, but stresses that any agreement must be paired with a fundamental shift in Iran’s behavior regarding global commercial shipping in the Strait of Hormuz.
Meanwhile, traffic through the strategic waterway remains restricted due to persistent military confrontation between the US and Iran. Yemen’s Iran-aligned Houthis have also announced a maritime blockade against Saudi Arabia, raising the risk of significant disruptions to global oil supplies. This remains supportive of a bullish undertone surrounding crude oil prices, which lends support to the commodity-linked Loonie and further contributes to the USD/CAD pair’s intraday pullback.
That said, expectations that the US Federal Reserve (Fed) will hike interest rates by year-end — amid concerns about energy-driven inflation — could limit USD losses. In contrast, Canada’s soft consumer inflation figures reaffirmed bets that the Bank of Canada (BoC) will keep rates unchanged through the remainder of 2026. This, along with US President Donald Trump’s new tariffs on Canadian products, could weigh on the Canadian Dollar (CAD) and lend additional support to the USD/CAD pair.
Given this backdrop, it will be prudent to wait for some follow-through selling before traders start positioning for the resumption of the pair’s recent retracement slide from the highest level since April 2025, touched last month. With no major market-moving economic releases scheduled from either the US or Canada, incoming geopolitical headlines are likely to drive USD demand and influence oil price dynamics, producing short-term trading opportunities around the USD/CAD pair.
US Dollar Price Today
The table below shows the percentage change of the US Dollar (USD) against listed major currencies today. The US Dollar was the strongest against the Japanese Yen.
| USD | EUR | GBP | JPY | CAD | AUD | NZD | CHF | |
|---|---|---|---|---|---|---|---|---|
| USD | -0.08% | -0.09% | 0.10% | -0.02% | -0.32% | -0.36% | -0.06% | |
| EUR | 0.08% | -0.01% | 0.17% | 0.05% | -0.22% | -0.28% | 0.02% | |
| GBP | 0.09% | 0.00% | 0.20% | 0.07% | -0.20% | -0.27% | 0.03% | |
| JPY | -0.10% | -0.17% | -0.20% | -0.12% | -0.39% | -0.47% | -0.15% | |
| CAD | 0.02% | -0.05% | -0.07% | 0.12% | -0.28% | -0.34% | -0.03% | |
| AUD | 0.32% | 0.22% | 0.20% | 0.39% | 0.28% | -0.06% | 0.26% | |
| NZD | 0.36% | 0.28% | 0.27% | 0.47% | 0.34% | 0.06% | 0.31% | |
| CHF | 0.06% | -0.02% | -0.03% | 0.15% | 0.03% | -0.26% | -0.31% |
The heat map shows percentage changes of major currencies against each other. The base currency is picked from the left column, while the quote currency is picked from the top row. For example, if you pick the US Dollar from the left column and move along the horizontal line to the Japanese Yen, the percentage change displayed in the box will represent USD (base)/JPY (quote).
