The Canadian dollar remained elevated on Friday after Tuesday’s report, which showed that the nation’s economy continued to grow. The currency ended the session flat versus its US peer.
The loonie (as the Canadian currency is nicknamed) remained strong after a report that showed an increase of gross domestic product by 0.3 percent. The currency was a bit soft in the first half of the week, but the second half allowed to reverse losses.
The loonie was unable to gain against the greenback as the US currency was just too strong. At the same time, the Canadian dollar managed to jump versus the euro, which was very weak. The yen was falling against the loonie every single day of the week.
USD/CAD ended the session at 1.0426 after opening at 1.0428. EUR/CAD slid from 1.4165 to 1.4065, while CAD/JPY advanced from 94.23 to 94.69 after falling to 93.78 intraday.
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