Forex – USD/CAD Drops to 4-Month Lows in Early Trade

© Reuters. Broadly weaker greenback loses ground vs. loonie – The U.S. dollar dropped to four-month lows against its Canadian counterpart on Wednesday, as concerns over the effects of U.S. President Donald Trump’s protectionist agenda weighed heavily on the greenback.

was down 0.56% at 1.2351 by 09:30 a.m. ET (13:30 GMT), the lowest since September.

The greenback came under broad selling pressure after White House officials on Tuesday said that President Trump was planning on using his speech at the World Economic Forum in Davos on Friday .

Such policies include a potential withdrawal from the North American free-trade agreement and disavowing the global climate change accord.

The dollar only briefly rebounded after Congress on Monday to fund the government for around three weeks and President Donald Trump signed the bill, ending the three-day government shutdown.

The loonie was lower against the euro, with adding 0.09% to 1.5286.

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