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Forex News: Canadian Dollar Drops Against Majors

Canadian Dollar Drops Against Majors

01/21/2025 - 02:29:00 (RTTNews)

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

The Canadian dollar fell to nearly a 5-year low of 1.4518 against the U.S. dollar and nearly a 4-week low of 1.5051 against the euro, from Monday's closing quotes of 1.4303 and 1.4905, respectively.

Against the yen and the Australian dollar, the loonie dropped to more than 1-month lows of 107.34 and 0.9034 from yesterday's closing quotes of 108.57 and 0.8983, respectively.

If the loonie extends its downtrend, it is likely to find support around 1.46 against the greenback, 1.52 against the euro and 104.00 against the yen.

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