TORONTO, July 17 (Reuters) – The Canadian dollar edged lower against its U.S. counterpart on Wednesday as risk appetite faded and after Canadian inflation data the previous day raised prospects of the Bank of Canada cutting interest rates further next week.
The loonie was trading 0.1% lower at 1.3690 to the U.S. dollar, or 73.05 U.S. cents, after trading in a range of 1.3657 to 1.3701.
“CAD is weaker on some equity weakness and lingering concerns about a rate cut next week after yesterday’s CPI data,” said Erik Bregar, director, FX & precious metals risk management at Silver Gold Bull.
