The US dollar continued to creep higher against its Canadian counterpart in early Asian deals Thursday, rising as much as 0.9911 before holding steady around 3:30 am ET. This set a 2-day high for the pair and almost 15-pips higher-than yesterday's closing quote of 0.9896.
Technically, the greenback-loonie pair had re-tested and staged a rebound from its key demand zone at 0.9840/60 that hit on Tuesday. Besides, a double-bottom reversal formed in the daily chart, which is pointing to further bull run and is targeting the neck-line resistance around the 0.9940/50 area.
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Business News
June 05, 2026 16:18 ET A busy week for economic news flow saw a slew of reports being released that reflected the trends in the U.S. labor market. In Europe, economic growth and inflation data gained attention as the European Central Bank and Bank of England head for policy session later in the month. In Asia, the monetary policy session of the Indian central bank was in focus as the country, a major oil importer, reels under the pressures of a weaker rupee and rising inflation.