Investing.com - The U.S. dollar was almost unchanged against its Canadian counterpart on Wednesday, after the release of downbeat Canadian housing sector data, as concerns over political turmoil in the U.S. persisted.
USD/CAD hit 1.3426 during early U.S. trade, the pair’s lowest since May 29; the pair subsequently consolidated at 1.3445.
The pair was likely to find support at 1.3385, the low of May 25 and resistance at 1.3548, the high of June 2.
Sentiment on the greenback remained vulnerable ahead of former FBI Director James Comey's testimony to a Senate committee on Thursday.
Investors are fearful that the Trump administration may be further damaged by any revelations that could emerge when Comey testifies about Russia’s alleged involvement in the U.S. election.
Meanwhile, Statistics Canada reported on Wednesday that building permits fell 0.2% in April, compared to expectations for an increase of 2.4%. Building permets declined 4.9% in March, whose figure was revised from a previously estimated 5.8% drop.
The loonie was higher against the euro, with EUR/CAD down 0.43% at 1.5095.