The Canadian dollar remained close to a 12-day low as gains from rising oil prices were not enough to overcome the strength of the US dollar, according to Investing.com Forex.
While oil typically supports the Canadian dollar due to Canada's status as a major oil exporter, the US dollar's recent momentum has outweighed this effect, keeping the Loonie under pressure.
For Japanese investors, this dynamic highlights the ongoing influence of US dollar strength on commodity-linked currencies, a key consideration for FX and equity market exposure in the region.