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Forex News: Canadian Dollar Drops Against Most Majors

Canadian Dollar Drops Against Most Majors

02/26/2024 - 05:29:00 (RTTNews)

(RTTNews) - The Canadian dollar weakened against most major currencies in the European session on Monday.

The Canadian dollar fell to more than a 1-month low of 1.4657 against the euro and a 5-day low of 1.3529 against the U.S. dollar, from early highs of 1.4613 and 1.3507, respectively.

Against the yen, the loonie edged down to 111.22 from an early high of 111.42. The loonie fell earlier to a 5-day low of 111.19 against the yen.

If the loonie extends its downtrend, it is likely to find support around 1.48 against the euro, 1.37 against the greenback and 108.00 against the yen.

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