The Canadian dollar fell for a fourth straight day against its U.S. counterpart on Thursday, as a pick-up in U.S. services sector activity bolstered the greenback ahead of domestic jobs data that could guide bets for a Bank of Canada interest rate cut.

The loonie was trading 0.3 per cent lower at 1.3830 per U.S. dollar, or 72.31 U.S. cents, after touching its weakest intraday level since Aug. 27 at 1.3845.

“I think today’s weakness is in large part a result of broad U.S. dollar buying that came in after the stronger-than-expected U.S. ISM services report,” said Erik Bregar, director, FX & precious metals risk management at Silver Gold Bull. The Institute for Supply Management said its non-manufacturing purchasing managers index increased to 52.0 last month from 50.1 in July.

In contrast

See Full Page