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Forex News: Canadian Dollar Drops Against Most Majors

Canadian Dollar Drops Against Most Majors

08/04/2024 - 23:50:00 (RTTNews)

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

The Canadian dollar fell to nearly a 3-1/2-year low of 1.5162 against the euro and an 8-month low of 104.28 against the yen, from Friday's closing quotes of 1.5134 and 105.62, respectively.

Against the U.S. dollar, the loonie edged down to 1.3887 from Friday's closing value of 1.3872.

If the loonie extend its downtrend, it is likely to find support around against 1.52 against the euro, 103.00 against the yen and 1.39 against the greenback.

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