fbpx Skip to main content
Daily Updates

USD to CAD Morning Update — August 5, 2020

By August 5, 2020February 23rd, 2024No Comments
The Canadian dollar has gained 1% against USD between yesterday morning and today.  Contrary to some of the analysis being offered, the move has almost nothing to do with domestic factors and everything to do with overall US dollar weakness.  After starting August with a brief rally, the US dollar started selling off again during the North American trading day yesterday.  The reasons are the difficult and murky social, health, and political situation in the US.  Primarily, the market is focused on the fact that the Fed will have to continue its extraordinarily expansive policies for the foreseeable future given the spread of the virus in the US and the looming possibility of rolling shutdowns.  The Canadian dollar is simply getting caught up in that trend — US dollar sellers are everywhere right now.


Are you looking for a better exchange rate?

Get the best exchange rate

Receive daily updates on Canadian dollar

Account to Account Service at Interchange Currency Exchange

Account to Account

If you have US dollar bank account in Canada and are looking to convert in your bank account at better rates than offered by your bank, then this service is for you.

Cash transactions at Interchange Currency Exchange

Cash

We have exchange rates that are much better than the banks and we charge no fees.

Money Transfer services at Interchange Financial

Money Transfer

If you are transferring money internationally or receiving money from overseas, we can help you save money as well because of our better exchange rates.