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US dollar firms as Iran sanctions rhetoric steadies risk
USD/CAD remained the focus as the Canadian dollar weakened, with oil losses cited as a pressure point.
The US dollar opened softer but strengthened over the course of the session, with the move attributed to remarks from Treasury officials that emphasized additional Iran-related threats rather than new, concrete sanctions. Forexlive said the comments also suggested a more restrained stance toward the bond market.
In FX trading, USD/CAD drew attention as the loonie lagged, a decline the coverage linked to falling oil prices. Forexlive noted that, despite the broader trade and sanctions rhetoric, the situation had not escalated materially into sharper market moves.
The report pointed to a comment attributed to Vice President Vance that negotiations are continuing, arguing that the disagreements are not far apart. Forexlive said traders were watching where the issues ultimately land.