© Reuters. The greenback rises, but the gains should remain limited
Investing.com – The u.s. dollar reduced its losses against its canadian counterpart on Monday, a drop in oil prices that have curbed demand for the canadian dollar, tied to commodity prices, although the greenback remained under selling pressure.
The USD / CAD gives up 0.26 per cent to 1,2428 before 9.30 am (13.30 GMT), down 1,2406.
A slight decline in oil prices has weighed on the canadian dollar on Monday, although the losses should be limited.
The us dollar ignored the data on Friday showing that consumer prices in the underlying in the United States have recorded their largest increase in 11 months in December, adding to forecasts that inflation will accelerate this year.
The greenback has also suffered from the pressure of the large gains of the euro, after the minutes of the December meeting of the european central Bank in December, according to which the authorities might consider a gradual shift in policy guidance from 2018.
The loonie declined against the euro, with EUR / CAD rising 0.37% to 1,5257