The Canadian dollar retreated from a four-month high against the U.S. dollar on Thursday after comments from U.S. President Donald Trump boosted the greenback against most major currencies.
During his first visit to the World Economic Forum in Davos, Switzerland, Trump stressed that he ultimately wanted to see a stronger U.S. dollar.
The move comes on the back of comments made by Treasury Secretary Steven Mnuchin on Wednesday, when he said a weaker buck was good for American exporters.Those comments had sent the U.S. dollar to a three-year low against a basket of currencies.
On Thursday, the loonie ended up closing at a trading average of 81.15 US cents after trading at its highest level since September in the morning.
Read full story here: Canadian dollar falls from 4-month high after Trump boosts U.S. dollar – Business – CBC News
