Canadian Dollar Softens Against USD Amid Weekend Position Adjustments
The Canadian dollar's performance was relatively stable on Friday morning, but it did soften slightly against its US counterpart as investors adjusted their positions before the weekend.
The CAD-US exchange rate stood at US$0.7136 or US$1=C$1.4013, compared to Thursday's close of US$0.7149 or US$1=C$1.3988.
The expectations for further interest rate hikes from the US Federal Reserve following this week's increase maintained support for the US currency globally.