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June, 15 - USD/CAD gains strong follow-through traction

The USD/CAD pair caught some fresh bids on the first day of a new week

usdcad1506and shot to two-week tops, around the 1.3680-85 region in the last hour.

Following the previous session's modest pullback, the pair managed to regain positive traction on Monday and built on last week's goodish bounce from the vicinity of the 1.3300 mark, or three-month lows. A sharp fall in crude oil prices undermined demand for the commodity-linked currency – the loonie – and turned out to be one of the key factors driving the USD/CAD pair higher.

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