After testing 1.3100 earlier in the day, the USD/CAD pair turned north in the early American session on Tuesday and touched a daily high of 1.3147. As of writing, the pair was up 0.25% on the day at 1.3144.
The broad-based USD strength seems to be fueling the pair's rebound in the second half of the day. With investors seeking refuge amid a lack of progress in Brexit talks and heightened concerns over additional delay in US coronavirus aid, the greenback continues to outperform its peers.
At the moment, the US Dollar Index is gaining 0.51% on a daily basis at 93.51. Reflecting the dismal market mood, the S&P 500 and the Dow Jones Industrial Average both trade in the negative territory.