The Canadian dollar extended its early decline against other major currencies on Wednesday amid the release of disappointing retail sales data for June.
Retail sales declined 0.4% to $38.7 billion in June, more than offsetting the gain in May. This may be compared to expectations for a 0.1% gain following a revised 0.2% increase last month.
The loonie is now trading at a 12-day low of 0.9946 against the greenback, 1-week low of 79.70 against the yen and more than a 2-week low of 1.2385 against the euro.
Against the aussie, the loonie slipped to 1.0378 amid the release of data, compared to early high of 1.0337.
by RTT Staff Writer
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