The Canadian dollar weakened against its U.S. counterpart on Thursday as the greenback broadly climbed, but the loonie held on to most of its recent gains as stocks and oil prices turned higher- reports The Globe And Mail.

The billions of repatriation dollars are probably ending? There was a bit rush of money coming back in so we could start to see a fall in the US$ rate. The Canadian dollar has rebounded since Christmas. We will run unto resistance around $0.76. You will probably see a continuation of the strength in the Canadian dollar. Resistance would be at $0.80.

There was a lot of money coming back in so we could start to see a fall in the US dollar rate, and we could see the Canadian dollar getting stronger.