The Canadian dollar surged to a fresh 14-month high of 1.4854 against the euro around 9:35 am ET, compared to yesterday's close of 1.493. The euro-loonie pair is presently worth 1.4873 with 1.481 seen as the next target level.
Against the Japanese yen, the Canadian dollar advanced to a 2-day high of 89.27 around 9:40 am ET and the pair is thus challenging Monday's fresh multi-month high of 89.54. At yesterday's close, the loonie-yen pair was worth 88.31.
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May 15, 2026 15:25 ET Apart from the confirmation of Kevin Warsh as the next Fed chair, the main news on the economics front this week included key price data from the U.S. and the first quarter economic growth figures from major economies. Both consumer prices and producer costs have started to reflect the effect of supply shocks due to the Middle East conflict. In Europe, GDP data was in focus, while inflation data from China dominated the news flow in Asia.