CAD Falls vs. USD & EUR, Gains on JPY

The Canadian dollar fell against the US dollar and the euro today, though currently it is trying to reverse losses against the former. The loonie fared far better against the yen, gaining on the Japanese currency.
The Canadian dollar was feeling the pressure from the probable interest rate hike by the Federal Reserve that has been supporting the US dollar and driving other currencies down. Additionally, the intraday drop of crude oil gave even more reasons for the loonie to fall. But with the bounce of crude, it is possible that the loonie is going to recover (and indeed, it is trying to do so against the greenback).
As for today’s economic data from Canada, the nation’s current account deficit widened from C$15.7 billion to C$16.8 billion in the first quarter of 2016. Nevertheless, it remained below the predicted level of C$17.4 billion.
USD/CAD was up from 1.3025 to 1.3094 during the trading session but is trading at 1.3049 as of 18:54 GMT today. EUR/CAD gained from 1.4474 to 1.4535. CAD/JPY moved from the open of 84.73 up to 85.11, trading near the highest level since May 12.

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