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Canadian Dollar Retreats From Six-Week High

The Canadian dollar slipped against the US dollar as oil prices declined and investors awaited domestic employment data. Markets weighed potential interest rate hikes following recent comments from Bank of Canada officials.

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

The Canada currency pulled back from a six-week high, trading 0.1% lower at 1.40 per United States dollar on Tuesday afternoon. The move reflects falling oil prices and pre-positioning ahead of crucial domestic employment data.