Canadian dollar edges lower against dominant greenback
The Canadian dollar weakened against its U.S. counterpart on Thursday on the first trading day of 2025, but fared better than some other major currencies as oil prices rose and data showed Canada's factory sector expanding for a fourth straight month. The loonie was trading 0.2% lower at 1.4410 to the U.S. dollar, or 69.40 U.S. cents, after moving in a range of 1.4370 to 1.4442. "The USD is starting 2025 off as it appears likely to continue, at least for the next few months, as it stretches gains versus the majors," Shaun Osborne, chief currency strategist at Scotiabank, said in a note.
