The Canadian dollar edged lower against its U.S. counterpart on Friday, pulling back from an earlier two-week high, as volatility in global equity markets bolstered demand for the safe-haven greenback. "What we are seeing in all of the volatility in markets in recent days is that there is this safe-haven bid for the U.S. dollar," said Royce Mendes, director & head of macro strategy at Desjardins. "The Canadian dollar seems to be detached from oil prices," Mendes said.
USD/CAD falls on weaker dollar and softer yields.
USD/CAD pulls back as yields rise.