USD/CAD Outlook: Loonie left behind as US CPI looms

The Canadian dollar was a notable laggard among G10 currencies against the US dollar on Monday, staging a dramatic reversal after strengthening sharply earlier in the session. To put the loonie's underperformance in context, the Kiwi dollar surged more than 1.5%, while the Australian dollar, another commodity-linked currency, gained nearly 0.9%, in contrast to a miserly 0.09% gain for CAD.