Canadian Dollar Retreats from One-Month High Against USD
The loonie fell from a one-month high against the U.S. dollar on Monday as oil prices rose. Investors sought the greenback while speculators cut bullish bets.
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The Canada dollar retreated from a nearly one-month peak against its U.S. counterpart on Monday, though it managed to extend gains against several other major currencies as rising oil prices and geopolitical tensions in the Middle East influenced market sentiment. The USD/CAD pair was trading 0.1% lower at 1.3585, or 73.61 U.S. cents, after previously reaching its strongest intraday level since mid-February at 1.3523. Meanwhile, the loonie showed strength elsewhere, rising 0.2% against the EUR/CAD cross.
