Canadian dollar weakens on US trade tensions
The Canadian dollar declined against its US counterpart as escalating trade restrictions overshadowed higher crude oil prices and rising bond yields. Investors also weighed potential interest rate hikes from central banks.
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The Canada dollar fell 0.2% to 1.3805 per United States dollar on Wednesday afternoon as escalating trade tensions overshadowed rising oil prices. The USD/CAD pair moved within a range of 1.3767 to 1.3820 during the session. The currency gave back much of the previous day's gains following new import bans.
