Investing.com - The U.S. dollar moved higher against its Canadian counterpart on Friday, helped by the release of upbeat U.S. housing sector data, while Canadian inflation figures for September were in line with market expectations.
USD/CAD was up 0.34% at 1.2800 by 09:30 a.m. ET (13:30 GMT), the highest since November 7.
Statistics Canada reported on Friday that consumer prices ticked up 0.1% in October, in line with expectations.
Year-over-year, consumer prices increased 1.4%, also as expected.
In the U.S., the Census Bureau reported on Friday that builing permits and housing starts both increased far more than expected last month.
But sentiment on the greenback remained fragile following reports that U.S. President Donald Trump's election campaign had been subpoenaed for documents in an ongoing investigation relating to possible Russian interference in the 2016 presidential election.
The Wall Street Journal reported on Thursday that Special Counsel Robert Mueller issued a subpoena to more than a dozen officials.
Robert Mueller is currently heading an investigation into attempts by the Russian government to meddle in the 2016 election and potential collusion with Donald Trump's presidential campaign.
Separately, the U.S. House of Representatives on Thursday approved a broad package of tax cuts, which will now be debated by the Senate.
Investors were still cautious however, as the Republican majority is smaller in the Senate and no decisive action is expected until after next week's Thanksgiving holiday.
The loonie was also lower against the euro, with EUR/CAD climbing 0.51% to 1.5090.