Canadian Dollar Strengthens Amid Middle East Diplomatic Hopes
The Canadian dollar has reached a five-week high against the U.S. dollar, driven by investor optimism over a potential diplomatic resolution to the Middle East conflict involving the U.S. and Iran. Despite domestic inflation data showing a rise to 2.4% in March, the Canadian dollar's strength is attributed to the halted traffic through the Strait of Hormuz, which has increased oil prices, a major Canadian export. The U.S. dollar, typically a safe-haven currency, saw reduced demand as hopes for a diplomatic solution tempered market fears. 
