Investing.com - The U.S. dollar slipped lower against its Canadian counterpart on Wednesday, but still remained within close distance of a one-month peak as expectations for a December rate hike in the U.S. continued to support.
USD/CAD hit 1.3235 during early U.S. trade, the pair's lowest since November 6; the pair subsequently consolidated at 1.3238, shedding 0.27%.
The pair was likely to find support at 1.3152, the low of November 6 and resistance at 1.3316, the high of November 6 and a one-month high.
The greenback remained supprted as last week's strong U.S. employment data paved the way for the Federal Reserve to raise interest rates at its December meeting.
The Labor Department reported on Friday that the U.S. economy added 271,000 jobs last month, well ahead of expectations of the 180,000 expected by economists and the largest increase since December.
The unemployment rate fell to a seven-and-a-half year low of 5.0%.
Meanwhile, sentiment on the commodity-linked Canadian dollar remained under pressure amid lower oil prices. Crude oil futures for December delivery were down 0.34% at $44.06 at the open of U.S. trading.
The loonie was higher against the euro, with EUR/CAD edging down 0.20% to 1.4227.