The performance divergence among G10 currencies has widened recently. The Canadian dollar has lagged somewhat against major developed currency peers, primarily due to mounting uncertainty from the Venezuela situation. Rising geopolitical risks typically push up risk aversion sentiment, and the Canadian dollar, as a commodity currency, faces pressure in such an environment. Investors are now more inclined to flow toward traditional safe-haven assets like the Swiss franc and Japanese yen, while the Canadian dollar's relative appeal has weakened.