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Forex

Loonie Loses Steam as Soft US Jobs Data Fails to Boost Canadian Dollar

Guavy AI Editorial Team
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USD CAD
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The Canadian dollar weakened against the US dollar on Friday as it failed to capitalize on soft US jobs data that reduced expectations for a Federal Reserve rate hike this month.

USD/CAD was around C$1.4252, putting the Canadian dollar at roughly 70.17 US cents, near the upper end of its session range of C$1.4225 to C$1.4263.

The loonie's muted reaction highlights the pressure it has faced from a stronger US dollar, elevated US Treasury yields and uncertainty over Canada's economic outlook.

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