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Canadian Dollar Weakens Against US Counterpart Amid Oil Price Volatility

Guavy AI Editorial Team
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The Canadian dollar has weakened against its US counterpart, falling 0.1% to trade at 1.4095 per US dollar on Friday.

This decline comes as oil prices gave back some of their recent gains and investors turned attention to the upcoming interest rate decision from the Federal Reserve.

Oil is one of Canada's major exports, and its price fell 3.8% to USD88.72 a barrel on Friday.

The loonie has been trading off crude prices, risk conditions, and trade headlines ahead of next week's Fed decision and May GDP figures.

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