Canadian Dollar’s Recovery Hits Resistance Amid June Inflation and New US Tariffs

The Canadian Dollar’s recent rebound against the US Dollar has lost momentum, hindered by softer inflation data from June and the introduction of new US tariffs on Canadian goods, according to FX Street.

FX Street noted that the Canadian Dollar had been recovering from a low of 1.4250 but struggled to approach the key 1.40 level. Efforts to reclaim the 50-day moving average near 1.3991 have also faltered, complicating any mean-reversion attempts in the currency pair.

For Japanese investors and traders, these developments highlight continuing uncertainties in North American FX markets, which may influence risk sentiment and cross-currency flows involving the yen.