Market News
Canadian dollar posts fourth straight weekly loss amid Trudeau uncertainty - REUTERS
By Fergal Smith
- Canadian dollar gains 0.3% against the greenback
- For the week, the loonie loses 0.8>#/li###
- Retail sales rise increase 0.6% in October
- Bond yields fall across the curve
TORONTO, Dec 20 (Reuters) - The Canadian dollar strengthened against its U.S. counterpart on Friday as investors cheered U.S. inflation data, with the loonie paring its weekly decline after it was pressured by a more hawkish Federal Reserve and domestic political turmoil.
The loonie was trading 0.3% higher at 1.4350 to the U.S. dollar, or 69.69 U.S. cents, extending its recovery from the weakest intraday level in nearly five years at 1.4467 on Thursday.
