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Forex News: Canadian Dollar Drops Against Majors

Canadian Dollar Drops Against Majors

11/26/2024 - 00:33:00 (RTTNews)

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

The Canadian dollar fell to more than a 4-1/2-yr low of 1.4178 against the U.S. dollar and more than a 1-month low of 108.61 against the yen, from yesterday's closing quotes of 1.3986 and 110.24, respectively.

Against the euro and the Australian dollar, the loonie dropped to a 6-day low of 1.4788 and a 2-week low of 0.9161 from Monday's closing quotes of 1.4677 and 0.9094, respectively.

If the loonie extends its downtrend, it is likely to find support around 1.42 against the greenback, 107.00 against the yen, 1.51 against the euro and 0.93 against the aussie.

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