Canadian Dollar (CAD) ticks down from two-month highs as the US Dollar (USD) firms up across the board, with investors bracing for the US Consumer Price Index (CPI) report due later in the day. The USD/CAD pair has gained about 15 pips on Wednesday, returning above 1.3930, but the broader trend remains bearish after losing more than 1% in a bit over two weeks. Tensions in the Middle East support the safe-haven USDThe US Dollar is drawing additional support from higher safe-haven demand amid flaring tensions in the Middle East. The Canadian Dollar, on the other hand, remains supported by higher Oil prices, which are acting as headwinds for USD/CAD rallies. Oil is Canada’s main export, and the Canadian Dollar has appreciated nearly 2% since the US broke the first ceasefire in early July.