Investing.com - The U.S. dollar edged lower against its Canadian counterpart on Wednesday, as investors remained cautious amid fresh U.S. political jitters and as higher oil prices lifted the commodity-related Canadian currency.
USD/CAD hit 1.3687 during early U.S. trade, the session low; the pair subsequently consolidated at 1.3686, shedding 0.24%.
The pair was likely to find support at 1.3640, Monday’s low and resistance at 1.3753, Tuesday’s high.
The greenback came under pressure after U.S. President Donald Trump abruptly fired FBI Director James Comey.
Comey had been leading his agency's investigation into alleged Russian meddling in the 2016 U.S. presidential campaign and possible collusion with Trump's campaign.
Meanwhile, the Canadian dollar benefited from a rally in oil prices on Wednesday, as traders eyed the weekly report on U.S. oil inventories.
The loonie was higher against the euro, with EUR/CAD falling 0.24% to 1.4884.