According to CoinMeta, during the Asian trading session on Friday, the US dollar continued its decline against the Canadian dollar for the third consecutive trading day, trading around 1.3970. Efforts to restart diplomatic mediation in the Middle East region alleviated pressure on the oil market, putting the Canadian dollar, which is linked to commodities, under pressure, and the US dollar continued to weaken against the Canadian dollar. The market holds hope for US-led diplomatic peace talks, and the demand for safe-haven assets diminished, putting pressure on the US dollar. The easing of tensions in the Middle East helps to alleviate market concerns about oil supply and inflation, reducing expectations for a Federal Reserve interest rate hike in December. Traders expect the probability of a 25-basis-point interest rate hike by the Federal Reserve to be close to 75%, down from 84.2% the previous day. Recent US economic data indicates that the economy remains resilient, strengthening expectations for a Fed rate hike, with the preliminary gross domestic product (GDP) growing by 3.4% year-on-year, higher than the market's expectation of 3.2%.