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Forex News: Canadian Dollar Drops As Oil Prices Decline

Canadian Dollar Drops As Oil Prices Decline

06/18/2025 - 15:08:00 (RTTNews)

(RTTNews) - The Canadian dollar weakened against its major counterparts in the New York session on Wednesday, as oil prices fell after rising in the previous session.

President Donald Trump said that Iran is willing to negotiate with the U.S., but he doubted "it's very late to be talking."

Although they wanted to negotiate, it's not easy for them to do, Trump said.

The White House did not provide details of its military plans in Iran.

The loonie dropped to 5-day lows of 1.5776 against the euro and 105.63 against the yen. The next possible support for the currency is seen around 1.58 against the euro and 103.00 against the yen.

The loonie fell to a 1-week low of 0.8925 against the aussie and an 8-day low of 1.3696 against the greenback. The currency is poised to find support around 0.92 against the aussie and 1.38 against the greenback.

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