The Canadian dollar strengthened versus the US dollar Tuesday, as traders took a breather following its surge.
US August crude ended up 21 cents at $50.36 a barrel. Brent crude for September inched up 30 cents at $57 a barrel.
The loonie stood at 77.23 US cents from Monday’s 76.94 US cents.
Although the loonie had a sharp snapback, “we’re skeptical it will last,” said Adam Button, Currency Analyst at ForexLive.
Investors will await the retail sales data for May, which is due Thursday.
The material has been provided by InstaForex Company – www.instaforex.com