The Canadian dollar bucked wider US strength on Tuesday, moving higher against the greenback as investors seemed keen to take a look at the loonie in the wake of political uncertainty in Europe. Canadian bond prices were propped up by first quarter gross domestic product numbers that came in slightly below predictions. The currency finished at C$1.2552 to the US dollar, or 79.67 US cents, up from C$1.2562 to the US dollar, or 79.60 US cents, at Monday's session close.
The loonie took a bumpy ride through the session, initially falling after data showed Canada's economy expanded in the first three months of 2005 at an annualised rate of 2.3 percent, up from fourth quarter growth of a revised 2.1 percent.
But the first-quarter figure came in below analysts' expectations of 2.5 percent growth.