Canadian dollar slides as U.S.-China tensions weigh on oil prices

The Canadian dollar weakened against its U.S. counterpart on Friday as oil prices fell and domestic data showed a record decline in retail sales, with the loonie giving back some of this week’s rally. At 9:09 a.m. (1309 GMT), the Canadian dollar was trading 0.5% lower at 1.4025 to the greenback, or 71.30 U.S. cents. The price of oil, one of Canada’s major exports, fell as tensions rose between the United States and China, and doubts grew about the pace of demand recovery from the coronavirus crisis.

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