February 14, 2012 / 1:53 PM / in 6 years

Loonie adds to losses after U.S. retail sales data

TORONTO (Reuters) - The Canadian dollar extended losses against its U.S. counterpart on Tuesday after data showed U.S. retail sales rose less than expected in January as consumers cut back on car purchases and did less online shopping.

<p>Canadian currency in the form of twenty dollar bills are displayed in this posed photograph in Toronto, October 22, 2008. REUTERS/Mark Blinch</p>

The currency softened to C$1.0006 versus the greenback, or 99.94 U.S. cents, from about C$0.9993, or $1.0007, immediately before the release. It was already on weaker ground from Monday’s close after a Moody’s ratings downgrade of six euro zone countries weighed on riskier assets.

Reporting By Claire Sibonney; Editing by Jeffrey Hodgson

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