The Canadian dollar closed slightly higher versus the US dollar on Monday, trimming early gains as oil prices declined, while light trading volumes led to wide swings as investors pushed through end-of-year transactions. The currency closed at C$1.2190 to the US dollar, or 82.03 US cents, up from C$1.2230 to the US dollar, or 81.77 US cents, at Friday's close.
An early rise in oil prices helped the Canadian dollar to a session high of 83.44 US cents, but the gains mostly evaporated as oil prices eased to end 6 percent lower.
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