TORONTO (Reuters) - The Canadian dollar steadied against the U.S. dollar on Monday, clawing back its earlier declines, as investors weighed domestic GDP data as well as minutes from the Bank of Canada's latest meeting that showed some members favored a ...

The Canadian dollar weakened against the greenback on Monday, and the yield on benchmark government debt climbed. The loonie was trading 0.4% lower at C$1.443 to the greenback, or 69.3 U.S. cents, after trading in a range of 1.

Sylvain Charlebois, Senior Director of the Agri-Food Analytics Lab at Dalhousie University, said a weaker Canadian dollar increases the cost of imported foods, putting immense pressure on retailers to either absorb those higher costs or pass them on to consumers.

USDJPY churned within a 156.62-157.93 range as markets grappled with a hawkish Federal Reserve, a cautious Bank of Japan, and interventionist rhetoric from Japanese officials. Finance Minister Katsunobu Kato warned about sharp and speculative market movements and suggested appropriate measures would be taken to curb excessive fluctuations.

The Canadian dollar rose against the greenback for three straight days even as the currency faces the perfect storm. The USD/CAD pulled back to 1.4350, down from the year-to-date high of 1.4466. Perfect storm for the loonie The USD/CAD pair has soared by almost 20% from its lowest level in 2020,