Loonie falls on concerns of new coronavirus lockdowns

The Canadian dollar fell on Thursday, amid growing concerns in global markets about reimposing public quarantines and lockdowns.

This is due to the spike in coronavirus infections in many countries, as the number surpassed the 12 million cases barrier, with a death toll of 550,000 victims worldwide.

Canada's Prime Minister Justin Trudeau said that the country handled the novel coronavirus outbreak better than many of its allies, including the United States.

The World Health Organization warned that the virus has not reached it peak yet and it's still spreading at a high rate.

Otherwise, data showed housing starts in Canada reached 212,000 units during June, higher than forecasts of 185,000.

As of 16:30 GMT, CAD/USD fell 0.5% to 0.7366, after hitting an intraday high of 0.7413 and a low of 0.736.