The USD/CAD pair extended its sideways consolidative price action through the early North American session and remained confined in a range just above mid-1.2000s. The pair, so far, has failed to register any meaningful recovery and remained well within the striking distance of the lowest level since May 2015 touched last week. The prevalent bearish sentiment around the US dollar, along with an uptick in crude oil prices capped the upside for the USD/CAD pair. That said, relatively thin liquidity conditions held traders from placing fresh bearish bets and helped limit the downside, at least for the time being.
The USD struggled to capitalize on Friday's attempted recovery move from multi-month lows, instead met with some fresh supply amid the ongoing decline in the US Treasury bond yields. Apart from this, the underlying bullish sentiment in the global financial markets further acted as a headwind for the safe-haven greenback. The latest comments by Fed Governor Lael Brainard did little to provide any respite to the USD bulls or move the USD/CAD pair. 
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The USD/CAD pair extended its sideways consolidative price action through the early North American session and remained confined in a range just above mid-1.2000s. The pair, so far, has failed to register any meaningful recovery and remained well within the striking distance of the lowest level since May 2015 touched last week. The prevalent bearish sentiment around the US dollar, along with an uptick in crude oil prices capped the upside for the USD/CAD pair. That said, relatively thin liquidity conditions held traders from placing fresh bearish bets and helped limit the downside, at least for the time being.
The USD struggled to capitalize on Friday's attempted recovery move from multi-month lows, instead met with some fresh supply amid the ongoing decline in the US Treasury bond yields. Apart from this, the underlying bullish sentiment in the global financial markets further acted as a headwind for the safe-haven greenback. The latest comments by Fed Governor Lael Brainard did little to provide any respite to the USD bulls or move the USD/CAD pair.