(RTTNews) - The Canadian dollar exhibited mixed performance against other major rivals during European session on Monday as crude oil price inched towards $79 per barrel. The loonie rose to near a 6-week high against the greenback and a 6-day high versus the euro. Meanwhile, the loonie eased from near a 5-week high against the yen and recovered slightly from near a 5-week low against the aussie.
U.S. crude for July delivery climbed as much as $1.69 to $78.87 today.
In China, the country's central bank on Sunday announced that it intends to keep the yuan "basically stable" and is not planning an immediate one-off revaluation of the currency. The comments come a day after the bank announced that it had decided to reform the exchange rate and make it more flexible.
"At present there is no basis for major exchange rate fluctuations," the People's Bank of China said on its website. "The yuan will not undergo a one-off revaluation, serving market supply and demand will continue to act as a base, and adjustments will be made with reference to a basket of currencies."
The Canadian dollar that rose to near a 5-week high of 90.06 against the yen at 6:15 am ET weakened shortly thereafter. Presently, the loonie is trading at 89.88 against the yen, an appreciation of 1.10%, compared to last week's closing quote of 88.88.
Extending its uptrend, the Canadian dollar rose to a 6-day high of 1.2585 against the euro at 6:45 am ET. The loonie, which bought 1.2647 against the euro at last week's close, is now worth 1.2609.
In economic news, Switzerland's M3 money supply that includes M2 and time deposits, grew 7.1% year-on-year in May, following a 5.4% rise in April, the Swiss National Bank said in a report today.
Annual growth in M2 increased to 10.2% from 9.1% in April. The monetary aggregate M2 is the sum of the money stock M1 and savings deposits. M1, at the same time, moved up at a pace of 10.7% compared to 8.5% in the previous month.
The loonie continued its gaining streak against the currency of U.S. during Monday's European session. The loonie hit near a 6-week high of 1.0154 at 7:15 am ET. Currently, the loonie is trading at 1.0167 against the greenback, compared to 1.0215 hit at last week's close.
Against the Australian currency, the loonie recouped slightly after hitting near a 5-week low of 0.9004 at 3:50 am ET. The loonie is presently trading at 0.8986 against the aussie. At last week's close, the loonie was quoted at 0.8910 versus the aussie.
