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USD to CAD Morning Update — August 4, 2020

Best Way to Convert Funds from my USD Account in Canada
The US dollar has started August stronger against most major currencies. This comes after the weakest month performance in July for the US currency index in nearly a decade.  Against the Canadian dollar the USD continues to hover around the pre-knockdown levels.  This morning, ongoing tensions between the US and China (this time around the TikTok app) are pressuring trade-sensitive currencies like the Loonie, which is down 0.15% from yesterday.  Oil is weaker by over 1% and the stock market is flat.  In the absence of unexpected news, we do not expect much volatility today in USDCAD.


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