• Canadian Dollar declines versus the US Dollar on Friday after Canadian Retail Sales come out lower than expected in May. 
• The USD also benefits from JPY outflows ahead of the BoJ meeting next week.
• The Greenback is supported by strong Initial Jobless Claims data on Thursday, which showed a sharp fall in new unemployment claimants. 
• Technically the pair is trading in a range above a thick band of support in the upper 1.30s. 

The Canadian Dollar (CAD) edges down against the US Dollar (USD) on Friday, after official data shows Canadian shoppers tightened their belts in May. 

The US Dollar also benefits from outflows from the Japanese Yen as traders shed their JPY holdings in favor of the Buck ahead of the Bank of Japan policy meeting next week, at which the board of governors is seen as likely to maintain the current ultra-loose policy. 

The USD/CAD pair trades in the 1.31s as the US session gets underway.