The Canadian dollar strengthened for a third straight day against its U.S. counterpart on Tuesday as the easing of COVID-19 restrictions in China bolstered investor sentiment. Global shares were higher and the price of oil, one of Canada's major exports, rose following China's decision to ease some quarantine requirements for international arrivals, a move that raised hopes for stronger growth and a revival in demand for commodities. U.S. crude prices advanced 1.3% to $110.98 a barrel, while the Canadian dollar was trading 0.3% higher at 1.2844 to the greenback, or 77.86 U.S. cents.
This morning, the EUR briefly hit $1.06 levels before easing back. A move back through to $1.060 levels would give the bulls a look at $1.07.
The Pound found early support today off the back of a pickup in market risk appetite. Avoiding sub-$1.2280 would support a bullish session.
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