The Canadian dollar lost today for the first time in more than a week as stocks and the crude oil had their first decline as risk aversion reappeared in financial markets worldwide.
The loonie ended a long streak of gains versus the greenback today after an U.S. consumer confidence report indicated a decline beyond estimations, affecting stocks markets and commodity prices automatically, and consequently weakening the extremely commodity-linked Canadian currency. Even with today’s decline, the Canadian dollar is still in a strong level, after hitting the highest peak in eleven months yesterday.
USD/CAD traded at 1.0827 as of 20:13 GMT from 1.0745 hours ago.
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