© Reuters. Greenback rises against loonie but gains capped
Investing.com – The U.S. dollar moved higher against its Canadian counterpart on Tuesday, but gains were expected to remain limited as the end of the U.S. shutdown failed to boost demand for the local currency, while rising oil prices were expected to lift the commodity-related Canadian currency.
was up 0.27% at 1.2478 by 09:30 a.m. ET (13:30 GMT).
The dollar only mildly 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.
Lawmakers have been trying to reach a deal on immigration, which is viewed as crucial to breaking the deadlock.
This is the first U.S. government shutdown since 2013. That year, the government was shut down for 16 days.
Meanwhile, the Canadian dollar was likely to benefit from a rise in on Tuesday, as traders turned their attention to this week’s U.S. supply data.
The loonie was lower against the euro, with adding 0.27% to 1.5301.
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