WINNIPEG, March 23 (MarketsFarm) The Canadian dollar was weaker Monday morning, as continued strength in the U.S. dollar weighed on other international currencies.
At 8:40 CDT Monday morning the Canadian dollar was at US$0.6934 or C$1.4422 which compares with Friday’s North American close of US$0.6977 or C$1.4332.
Global concerns over COVID-19 had investors looking to safe havens and exiting riskier assets, including the Canadian dollar.
Recent weakness in crude oil also continued to weigh on the energy-linked currency, although oil was slightly firmer to start the week.
In domestic data, Canada’s wholesale trade increased by 1.8 per cent in January to hit C$65.2 billion, according to a report from Statistics Canada.
The TSX was down by 163.87 points at 8:40 CDT to trade at 11,687.94 points.