Canadian Dollar Edges Lower Amid Flight to U.S. Dollar
The Canadian dollar fell 0.1% as investors sought safety in the U.S. dollar. Domestic data showed a narrowing current account deficit ahead of GDP reports.
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The Canadian dollar weakened against its U.S. counterpart on Thursday as a global flight to safety overshadowed positive domestic trade data. The loonie was trading 0.1% lower at 1.3685 per U.S. dollar, or 73.07 U.S. cents, after oscillating within a range of 1.3660 to 1.3712.
"The AI trade is out of fashion and we're seeing a flight to safety," said Adam Button, chief currency analyst at investingLive.
