13.07 - USD/CAD reverses from 1.3602
- by George Solotarov
USD/CAD takes offers around 1.3560/55, down 0.24% on a day, while heading into the European session on Monday. The loonie pair earlier benefited from WTI weakness but failed to cross 1.3600 as the US dollar extends Friday’s losses amid the mildly upbeat session.
The US dollar index (DXY), a gauge of the greenback versus the major currencies, drops over 0.25% to 96.40 by the press time. While increasing odds of the further stimulus propels global markets and diverts funds off the US currency, a sustained surge in the American numbers of the coronavirus (COVID-19) makes it a little appreciable for the world’s largest economy.