Loonie hits five-month high

The Canadian dollar rose on Tuesday to a five-month high against its southern rival following strong growth data from Canada, while the U.S. dollar retreats versus a basket of currencies.
 
USD/CAD last traded at 1.2993, down from the opening of 1.3102, with an intraday high at 1.3124, and a low at 1.2969.
 
Canada's GDP grew 0.4% in November, besting expectations of a 0.3% rise, and compared to October's 0.3% fall.

On the other hand, the dollar fell today amid concerns about U.S. president Trump's policies, which underpinned crude prices, in turn buoying the loonie as they usually go together.
 
The dollar index, measuring the greenback against a basket of currencies, fell to 99.53 from the opening of 100.31, with an intraday high at 100.51, and a low at 99.45, amid worries about U.S. president Trump's controversial policies.