TORONTO: The Canadian dollar edged up against its US counterpart on Friday, with the currency holding onto this week’s gains as a preliminary estimate showed Canada’s economy rebounding in June. The loonie was trading 0.1% higher at 1.2431 to the greenback, or 80.44 US cents, after trading in a range of 1.2427 to 1.2472.

It was on track to advance for the second straight week, with a gain of 1%, as dovish remarks by the US Federal Reserve took the steam out of a month-long rally for the US dollar. For the month, the loonie was down 0.3%.