Investing

Broadly weaker greenback slips lower vs. loonie By Investing.com

© Reuters. Greenback edges lower vs. loonie in early trade

Investing.com – The U.S. slipped lower against its Canadian counterpart on Tuesday, as sentiment on the greenback remained vulnerable after the Jackson Hole summit and amid fresh geopolitical tensions.

was down 0.09% at 1.2497 by 09:30 a.m. ET (13:30 GMT).

The greenback remained under pressure after a speech by Federal Reserve Chair Janet Yellen at the Jackson Hole economic symposium on Friday , disappointing some investors who had hoped she would adopt a hawkish tone.

Separately, market sentiment was hit after , in the latest act of provocation by Pyongyang.

Following the missile test, the U.S., Japan and South Korea asked for a United Nations Security Council meeting. According to diplomats, a meeting of the 15-member Security Council is scheduled to be held later Tuesday.

But the Canadian dollar’s gains were limited as investors remained cautious after , and many oil refineries in the U.S. Gulf Coast, sparking worries about the storm’s impact on the U.S. economy.

The loonie was lower against the euro, with gaining 0.33% to 1.5030.

The single currency was boosted by hopes the European Central Bank will soon announce plans to taper its bond-buying stimulus program.

Though ECB President Mario Draghi gave no fresh monetary policy cues at the Jackson Hole summit, some investors interpreted his lack of comment on the recent strength of the euro as an indication that it would continue to climb.

Disclaimer: Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. All CFDs (stocks, indexes, futures) and Forex prices are not provided by exchanges but rather by market makers, and so prices may not be accurate and may differ from the actual market price, meaning prices are indicative and not appropriate for trading purposes. Therefore Fusion Media doesn`t bear any responsibility for any trading losses you might incur as a result of using this data.

Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.

Leave a Reply

Your email address will not be published.

one + 6 =