Canadian Dollar Hits One-Month Low Against Greenback
The Canadian dollar fell to 1.3735 per U.S. dollar on Friday, marking its eighth consecutive daily decline as global bond yields rose. While domestic housing starts and factory sales showed growth, the loonie tracked lower amid a broad surge in the greenback and shifting Federal Reserve rate expectations.
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Canada's dollar fell 0.1% to 1.3735 per United States dollar on Friday, marking its lowest level since April 15. The currency is on track for its eighth straight daily decline, the longest losing streak since January. Rising global bond yields and a strengthening greenback are pressuring the loonie as inflation concerns resurface.
