Investing.com - The U.S. dollar edged higher against its Canadian counterpart on Wednesday, despite the release of upbeat Canadian data and amid ongoing concerns over recent political events in Washington.
USD/CAD hit 1.3838 during early U.S. trade, the session high; the pair subsequently consolidated at 1.3628, adding 0.15%.
The pair was likely to find support at 1.3572, Tuesday’s low and resistance at 1.3661, Tuesday’s high.
The greenback weakened broadly following reports U.S. President Donald Trump shared sensitive intelligence with Russia's foreign minister in a meeting last week.
The U.S. dollar came under further selling pressure after news Trump asked former FBI Director James Comey to end the agency's investigation into ties between former White House national security adviser Michael Flynn and Russia.
Markets were still recovering from Trump’s decision last week to fire James Comey and amid congressional calls for an independent investigation of possible Russian interference with the U.S. election.
Statistics Canada reported that manufacturing sales increased by 1.0% in March, exceeding expectations for a 0.4% rise.
Manufacturing sales fell 0.6% in February, whose figure was revised from a previously estimated 0.2% downtick.
The loonie was lower against the euro, with EUR/CAD climbing 0.42% to 1.5143.