Canadian Dollar Pulls Back From Five-Week High Ahead of BoC Decision
The loonie weakened 0.3% to 1.4050 per U.S. dollar, or 71.17 U.S. cents, as oil prices fell and investors turned cautious ahead of an expected Bank of Canada rate hike.
By Fergal SmithThe Canadian dollar weakened against its U.S. counterpart on Tuesday as the price of oil fell and investors turned cautious ahead of an expected interest rate hike by the Bank of Canada.The loonie FX_IDC:USDCAD was trading 0.3% lower at 1.4050 per U.S. dollar, or 71.17 U.S. cents, ex…