The Canadian dollar was trading 0.1% lower at 1.2661 to the greenback, or 78.98 US cents, having touched its strongest intraday level since last Thursday at 1.2575. Last Thursday, it touched a three-year high at 1.2464.
Prior to market opening, the People's Bank of China (PBOC) set the midpoint at 6.4904 yuan per dollar, 146 pips, or 0.22%, weaker than the previous fix of 6.4758. It was the weakest since Jan. 4.
The peso weakened 1.08% to 20.8 per US dollar on Wednesday after the Senate approved the bill on Tuesday evening.
The legislation, aimed at strengthening state utility CFE, has frayed market nerves amid criticism it is essentially an "indirect expropriation" that could elbow out private sector renewable energy providers.
Meanwhile, European Central Bank board member Fabio Panetta said the bloc's monetary authority should expand bond purchases or even increase the quota earmarked for them if needed to keep yields down.
Canada's current account deficit narrowed to C$7.3 billion in the fourth quarter from a revised C$10.5 billion deficit in the third quarter, Statistics Canada said. Canada's fourth-quarter GDP data is due on Tuesday.