The loonie dollar failed to maintain its strength with a weak return to trade at the opening of trading earlier in the week.
Earlier, the commodity currency had found support from much stronger -than -expected Canadian employment data readings in November.
Data published last Friday, showed an increase of 153,000 jobs from 31,200 previously recorded. The reading also beat expectations for an increase of just 35,600.
Meanwhile, the unemployment rate dropped to 6% from 6.7% previously, the lowest level ever recorded before the Covid-19 pandemic began.
This encouraging reading has given support to the loonie dollar's trade to rise significantly, as well as being driven by the decline in the US dollar due to the NFP jobs report that missed the forecast.
However, the consolidation failed to hold, seeing the loonie dollar re -trade around a three -month low against the greenback. In the European session, the loonie traded 0.14% lower around the price of 1.2825.
This may be due to the USD returning strong following positive expectations for the Federal Reserve (Fed) to tighten policy soon and Omicron uncertainty that dampened the movement of major currencies and crude oil trading.
