Loonie at 73.78 U.S. cents
edged lower against its U.S. counterpart on Tuesday but stopped short of a recent two-and-a-half-month low, as investors awaited domestic retail sales data and the Jackson Hole Symposium this week.
“We are seeing a strong dollar bid over the last week or so. A lot of that is coming off the sour China news … U.S. yields also fed into the story,” said Jay Zhao-Murray, market analyst at Monex Canada Inc. The U.S. dollar strengthened against a basket of major currencies as traders awaited the Fed’s central bank symposium at Jackson Hole, Wyoming, set for Aug. 24-26.
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