The Canadian Dollar dove after Saudi Arabia expelled Canada’s ambassador and froze all trade and investment with Canada. The was a response to Canada’s support of detained human rights activists. USD-CAD jumped by nearly 30 pips in the early phase of trading in the Asia-Pacific region, posting a high of 1.3019, before the move ran out of steam. Elsewhere, the Dollar remained generally firm in the wake of Friday’s U.S. jobs report, where a disappointing headline was burnished by firmer underlying components. EUR-USD edged out a fresh six-week low of 1.1551.
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