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Canadian Dollar Drops Against Most Majors

The Canadian dollar weakened against most major currencies in the Asian session on Monday.

The Canadian dollar fell to near 2-week lows of 1.3078 against the U.S. dollar and 78.32 against the yen, from last week's closing quotes of 1.3044 and 78.65, respectively.

Against the euro, the loonie dropped to near 1-1/2-month lows of 1.4699 from Friday's closing value of 1.4651.

If the loonie extends its downtrend, it is likely to find support around 1.32 against the greenback, 76.00 against the yen and 1.48 against the euro.

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Business News

Inflation data from the U.S. garnered maximum attention this week on the economics front, along with the interest rate decision by the European Central Bank. Read our stories to find out how these two key events are set to influence monetary policy in the months ahead. Other main news from the U.S. were the release of the minutes of the latest Fed policy session and the jobless claims data. Elsewhere, the interest rate decision by the Bank of Canada was also in focus.

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