Canadian dollar extends weekly decline

TORONTO: The Canadian dollar weakened to a two-month low against its US counterpart on Friday, as investors awaited signs of de-escalation in the Middle East war, which has helped drive safe-haven demand for the greenback.

The loonie was trading 0.1 percent lower at 1.3875 per US dollar, or 72.07 US cents, after touching its weakest intraday level since January 19 at 1.3884. For the week, the currency was down 1.1 percent, putting it on track for its third straight weekly decline.

Iran’s response to a US peace proposal aimed at ending the war was expected later on Friday.