Exchange rate refers to the value of one currency in relation to another. It is the price at which one currency can be exchanged for another. Exchange rates are determined by a variety of factors, including supply and demand for each currency, economic and political conditions in each country, interest rates, inflation rates, and other factors.
USD/CAD fell for two days in a row. The dollar was lower against major currencies on the back of poor U.S. PMI performance and a drop in U.S. bond yields.…
