The Canadian dollar traded at parity with its U.S. peer early Monday, a low not seen since Aug. 7.
The U.S. dollar touched a 12-week high of C$1.0001 Monday morning, from C$0.9969 late Friday, according to data provider CQG.
The U.S. dollar is modestly higher against most major peers early Monday.
For the Canadian dollar, the announcement late Friday that Moody's Investors Service would review six Canadian banks for possible downgrade, because of fears over Canadian consumer debt and real estate prices, has contributed to "a negative [Canadian dollar] bias," early Monday, said Jeremy Stretch, head of foreign-exchange strategy at CIBC World Markets in London.
Trading in the currency market is expected to remain thin Monday, with U.S. stock markets closed Monday and possibly Tuesday as Hurricane Sandy looms over the northeastern U.S.
The storm has already forced evacuation orders for hundreds of thousands of residents, cancelled flights, and closed schools and public transit systems.
Write to Karen Johnson at karen.johnson@dowjones.com
