Market Commentary and Intraday News

Greenback Off 2-day Low Against Canadian Dollar

245 days ago

(RTTNews) - The US dollar that edged lower against its Canadian rival on Friday's early Asian session reversed direction just ahead of the European deals. The greenback-loonie pair is presently quoted at 0.9753, up almost 20-pips or 0.20 percent from a 2-day low of 0.9734 hit earlier in the session.

Revival of risk-appetite lifted equities and commodities higher in the Asian session, which in turn enhanced the value of high-yielding currencies like the Canadian dollar. Technical picture is quite bearish for the USD/CAD as the pair retraced from its 23.6 percent level yesterday between a high in June and a low in September.

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