Canadian dollar rises despite fears of new lockdowns

The Canadian dollar rose Wednesday, despite fears over the return of the lockdown restrictions in many countries around due to the the coronavirus crisis.

Johns Hopkins University reported that cases of Covid-19 virus have surpassed 11 million globally, with a death toll of 545,000 victims.

In the US, coronavirus cases are close to 3 million, and the authorities announced today the largest daily increase since the start of the crisis, with 60,000 confirmed cases.

However, US officials stated that it would be a mistake to lockdown the economy and commercial activities again in the US.

As of 17:02 GMT, CAD/USD rose 0.6% to 0.7394, after hitting a high of 0.7396 and a low of 0.734.