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Forex News: Canadian Dollar Drops Against Majors

Canadian Dollar Drops Against Majors

04/25/2017 - 01:27:00 (RTTNews)

(RTTNews) - The Canadian dollar weakened against the other major currencies in the Asian session on Tuesday.

The Canadian dollar fell to a 5-1/2-month low of 1.4728 against the euro and a 4-day low of 80.86 against the yen, from yesterday's closing quotes of 1.4666 and 81.30, respectively.

Against the U.S. and the Australian dollars, the loonie dropped to nearly a 4-month low of 1.3559 and nearly a 4-week low of 1.0252 from yesterday's closing quotes of 1.3498 and 1.0222, respectively.

If the loonie extends its downtrend, it is likely to find support around 1.48 against the euro, 79.00 against the yen, 1.36 against the greenback and 1.04 against the aussie.

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