Canadian dollar weakens

The Canadian dollar weakened against its US counterpart on Thursday, pulling back from a one-week high as the greenback recovered some lost ground against a basket of major currencies. The loonie had rallied this week as investor fears of a more unfavourable trade outlook for Canada abated and after US President Donald Trump signed orders on Tuesday smoothing the path for the Keystone XL oil pipeline, but nervousness remains.
The Canadian dollar settled at C$1.3098 to the greenback, or 76.35 US cents, weaker than Wednesday's close of C$1.3067, or 76.53 US The currency's weakest level was C$1.3130, while it touched its strongest since January 18 at C$1.3054.