By Commodity News Service Canada
WINNIPEG, December 19 – The Canadian dollar lost ground against its US counterpart in early activity on Monday.
The greenback was steady near a 14-year-high, supported by ideas that president-elect Donald Trump will be implementing fiscal policy that is supportive for the US economy.
The US Federal Reserve raised interest rates last week, which was also supportive for the currency.
Crude oil futures declined in early activity on Monday, which was bearish for the commodity-linked Canadian dollar.
At 9:03 CST Monday, the Canadian dollar was at US$0.7467 or US$=C$1.3392, which compares with Friday’s North American close of US$0.7494 or US$1=C$1.3344.
There was no significant economic data released by Statistics Canada on Monday.
The TSX was up 27.52 points at 9:03 CST Monday morning to sit at 15,279.72.
