Canadian Dollar Edges Lower Amid US Dollar Strength and Trade Tensions

The Canadian dollar has been under pressure due to the strength of the U.S. dollar and the upcoming Federal Reserve commentary. The loonie was last down about 0.06% at C$1.3885 per U.S. dollar, equivalent to roughly 72.02 U.S. cents.

The move came as investors positioned for Federal Reserve Chair Kevin Warsh's appearance at the Jackson Hole symposium, where he may provide clues on how policymakers view persistent inflation and the path for borrowing costs.

Recent U.S. data has reinforced expectations that interest rates could remain elevated, with July's personal consumption expenditures price index rising 3.7% year over year, slightly above economists' expectations.