USD/CAD drops further, approaches 1.0900

FXStreet (Córdoba) - The USD/CAD hit a fresh daily low at 1.0919 during the US session and remains near daily lows, consolidating losses, trading 50 pips below the price it had at the beginning of the day.

The loonie is among the best performers across the board, on a session where the rest of the currencies are moving with marginal price changes.

USD/CAD approaches 1.0900

Last Friday, on the back of the Canadian employment report the USD/CAD rose to test weekly highs at 1.0985 but failed to break above and pulled back, accelerating on Monday. Today’s bearish run pushed the price away from 1.1000, toward 1.0900, that is a key short term support.