The Canadian dollar returned session advances versus the US dollar Thursday on softer crude prices.
US crude price fell 1.24% to $59.75, while Brent crude erased 0.34% to $66.58.
Certain people stipulated the US dollar might be a little oversold. “We’ve had quite a large swing over the last three to four weeks,” said Rahim Madhavji, President at KnightsbridgeFX.com.
The loonie closed at 83.34 US cents from Wednesday’s 83.56 US cents. Earlier, the currency reached its firmest level since mid-January.
The material has been provided by InstaForex Company – www.instaforex.com