The Canadian dollar weakened against its U.S. counterpart on Tuesday as the gree...
TORONTO - The Canadian dollar weakened against its U.S. counterpart on Tuesday as the greenback broadly climbed, but the loonie stayed within its recent range ahead of a Bank of Canada interest rate decision on Wednesday.
“I’m just seeing your typical broad dollar-buying type of flow whenever you see stocks come off,” said Erik Bregar, head of FX strategy at the Exchange Bank of Canada. A lack of progress in the trade dispute between the United States and China has worried investors, he said. At 3:34 p.m. , the Canadian dollar was trading 0.4% lower at 1.3490 to the greenback, or 74.13 U.S. cents. The currency, which has spent much of the last month between 1.34 and 1.35, traded in a range of 1.3434 to 1.3497.
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