Loonie Weakens as Europe Troubles Forex Market

The Canadian dollar weakened today against the US dollar and the Japanese yen as Europe continues to trouble the Forex market, while unemployment claims in the United States rose last week.
Italy failed to reach its maximum target at the bond auction as it sold €7.02 billion of debt, compared to the maximum target of â‚¬8.5 billion. US jobless claims rose from 366,000 to 381,000 in the week ending December 24. The median forecast was 372,000.
The losses of the Canadian currency were limited as trading is slow ahead of the holidays. It’ll be a last trading day tomorrow and the Forex market should be quiet, extending the slow trading through the next week (the first week of the new year).
USD/CAD was up from 1.0199 to 1.0210, while CAD/JPY was down from 76.07 to 75.99 as of 23:16 GMT today.

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