IUX24
TopMarketWorldEconomyFinanceTechnologyBusinessPoliticsAnalysis & Opinion

Canadian Dollar Heads for Weekly Loss on Yield Spreads

The Canadian dollar is heading for a weekly decline against the US dollar as widening yield spreads weigh on the currency. Investors await key domestic inflation data to gauge future interest rate moves.

Xurve View
Insights:
A Canadian dollar coin, commonly known as the "Loonie", is pictured in this illustration picture taken in Toronto, January 23, 2015. REUTERS/Mark Blinch

Canada's currency is heading for a weekly drop of 0.9% against the United States dollar on Friday, weighed down by widening yield spreads. The USD/CAD traded nearly flat at 1.4257 during Friday afternoon sessions, moving within a range of 1.4229 to 1.4270.