The Canadian dollar strengthened to a nearly one-week high against its U.S. counterpart on Monday as the greenback broadly fell and investors braced for a potential interest rate increase by the Bank of Canada this week.
Bets had been tempered by a Reuters report on Wednesday that Canada was increasingly convinced U.S. President Donald Trump would soon announce the United States intends to pull out of the North American Free Trade Agreement.
The reason: Canadian officials said Wednesday it's increasingly likely that U.S. President Donald Trump plans to dump the trillion-dollar trade pact. The White House was quick to deny it. And Thursday, Canada said it's preparing new talks related to ...
The Canadian dollar weakened slightly against a stronger U.S. counterpart on Monday, pulling back from Friday's three-month high even as optimism in a business survey supported bets that the Bank of Canada would raise interest rates next week.
The Canadian dollar strengthened to a three-month high against its U.S. counterpart on Friday after stronger-than-expected domestic jobs data boosted expectations for a Bank of Canada interest rate hike this month.