TORONTO: The Canadian dollar edged lower against its US counterpart on Friday as domestic employment data showed wage growth slowing in January and ahead of US economic reports in the coming week that could drive moves for the greenback.
The loonie was trading 0.1% lower at 1.3475 to the greenback, or 74.21 US cents, pulling back after touching its strongest intraday level since last Friday at 1.3413. For the week, the currency was also down 0.1%.
“The FX market as a whole is still largely driven by the broad dollar moves,” said Howard Du, an FX Strategist at BofA Securities.
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