After three days of gains, the Canadian dollar fell as profit-taking had stocks on the decline. The loonie lost 0.3 percent to C$1.0230 per U.S. dollar at 7:44 a.m. in Toronto, compared with C$1.0200 yesterday.
Ã¢â‚¬Å“ItÃ¢â‚¬â„¢s all about what the big dollar is doing,Ã¢â‚¬Â Firas Askari, head currency trader in Toronto at Bank of Montreal, CanadaÃ¢â‚¬â„¢s fourth-largest lender, said via e-mail. Weakness in both stocks and oil Ã¢â‚¬Å“doesnÃ¢â‚¬â„¢t help the loonie.Ã¢â‚¬Â
This article is for general information purposes only. It is not investment advice or a solution to buy or sell securities. Opinions are the authors; not necessarily that of OANDA Corporation or any of its affiliates, subsidiaries, officers or directors. Leveraged trading is high risk and not suitable for all. You could lose all of your deposited funds.