Market News
Canadian dollar edges lower as political risk lingers - REUTERS
By Fergal Smith
- Summary
- Canadian dollar falls 0.1% against the greenback
- Trades in a range of 1.4364 to 1.4419
- Price of US oil increases 1.3%
- Yield curve trades at steepest in 2-1/2 years
TORONTO, Dec 24 (Reuters) - The Canadian dollar weakened against its U.S. counterpart on Tuesday, but the move was modest ahead of the Christmas Day holiday and as investors awaited clarity on the position of Canadian Prime Minister Justin Trudeau.
The loonie was trading 0.1% lower at 1.4380 to the U.S. dollar, or 69.54 U.S. cents, after moving in a range of 1.4364 to 1.4419.
Last Thursday, the currency touched its weakest intraday level since March 2020 at 1.4467, weighed by the threat of U.S. trade tariffs, a more hawkish Federal Reserve and domestic political uncertainty.
