USD/CAD trims intraday losses but remains in the negative zone, which could be attributed to an improved US Dollar (USD).
USD/CAD faced challenges due to lower US Treasury yields on Tuesday. The lower WTI price could contribute to pressure on the Canadian Dollar. Greenback could struggle on market expectations of the Fed commencing an easing cycle. USD/CAD trims intraday losses but remains in the negative zone, which could be attributed to an improved US Dollar . The USD/CAD pair edges lower to 1.3580 during the Asian trading hours on Tuesday.
The US Dollar Index attempts to retrace its recent losses, inching higher to near 104.20, by the press time. However, the decline in the US Treasury yields, which could have put pressure on the US Dollar. Market sentiment is leaning towards expectations of the Federal Reserve commencing an easing cycle, with speculations pointing towards a potential start in June. Traders will likely watch Consumer Confidence for February on Tuesday.
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