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USD/CAD rises through 1.1300

FXStreet (Córdoba) - USD/CAD advanced sharply during the American session as the loonie weakened on the back of disappointing Canadian GDP figures.

USD/CAD broke its recent range to the upside and rallied through the 1.1300 level to hit its highest price in 2 weeks at 1.1331. Along with USD self-strength, CAD was hurt by data showing Canada's gross domestic product contracted by 0.1% in August, weaker than the expected zero-growth performance.

At time of writing, USD/CAD is trading at the 1.1315 area, recording a 1.21% gain Friday. The pair is also headed for a weekly gain and the second monthly rise in a row.

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