USD/CAD Plunges to 1.3500 as Oil Surge Drives CAD to Multi-Week Peak

USD/CAD has crashed to 1.3500—CAD's strongest since March 11—fueled by elevated oil prices (Brent $82/bbl, WTI ~$78/bbl) from stalled US-Iran talks and Hormuz risks. From mid-April highs near 1.3833, the pair navigated volatility with plunges below 1.3800, 1.3670, and sub-1.3630 on ceasefire doubts, BoC rate hold at 2.25%, Fed steady at 3.5-3.75%, soft US Q1 GDP (2.0% vs 2.3%), DXY slide to 98.16, and Japan intervention. The loonie posts a fourth weekly gain, with support at 1.3480/1.3400 and resistance at 1.3550/1.3600 ahead of Fed cues.