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Forex News: Canadian Dollar Drops Against Most Majors

Canadian Dollar Drops Against Most Majors

12/18/2024 - 01:45:00 (RTTNews)

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

The Canadian dollar fell to nearly a 5-year low of 1.4330 against the U.S. dollar and nearly a 1-1/2-month low of 1.5056 against the euro, from Tuesday's closing quotes of 1.4310 and 1.5008, respectively.

Against the yen, the loonie slipped to a 1-week low of 107.03 from yesterday's closing value of 107.25.

If the loonie extends its downtrend, it is likely to find support around 1.45 against the greenback, 1.52 against the euro and 105.00 against the yen.

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