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ForexUpdated×6•Originally published 22 April 2026•Updated 23 April 2026•

1 min read

USD/CAD Hits New Lows Below 1.3650 as Market Sentiment Shifts

Donald Trump against maps of the US and Iran, with oil barrels, pipelines, derricks, and upward financial charts amidst flames.

Key Facts

1The USD/CAD pair edged up to reach the 1.3660 level.

2Traders are focusing on geopolitical developments regarding Iran and commentary from the Fed's Kevin Warsh.

The USD/CAD pair experienced a reversal in momentum, hitting new lows below the 1.3650 threshold, while USD/JPY traded above the 159.00 level. Concurrently, the USD/CHF pair climbed further beyond the mid-0.7800s, driven by ongoing geopolitical risks specifically linked to the Strait of Hormuz. This shift occurs as EUR/USD trades near 1.1750 amid reports that regional ceasefire efforts have come under increased pressure. In the cross-currency space, EUR/CAD held steady below 1.6050, with recovering oil prices providing a tailwind for the Canadian Dollar. Investors are maintaining a close watch on Federal Reserve official Kevin Warsh for potential hints regarding interest rates. Market direction remains highly sensitive to Middle East developments and upcoming macroeconomic indicators.

about 1 month ago

Version History

2 additional sources confirmed this story

Version 6about 1 month ago

What changed: Updated the story to include the USD/CHF climb above 0.7850 driven by geopolitical risks in the Strait of Hormuz.

Version 5about 1 month ago

What changed: Added USD/JPY trading levels above 159.00 and updated geopolitical context regarding increased pressure on US-Iran ceasefire efforts.

Version 4about 1 month ago

What changed: Updated the story to reflect USD/CAD breaching the 1.3650 support level and hitting new session lows.

Version 3about 1 month ago

What changed: Added new technical levels for the EUR/CAD cross and noted the impact of recovering oil prices on the Canadian Dollar.

Version 2about 1 month ago

What changed: Added specific price action for the EUR/USD pair and updated the status of the ceasefire talks to reflect growing doubts and potential failure.

Version 1about 1 month ago

What changed: Added specific price levels for the USD/CHF pair and identified the Iranian remarks on a ceasefire extension as the primary upcoming catalyst.