The Canadian dollar held steady against its US counterpart in trading yesterday (July 28th) after seven consecutive days of gains.Known as the loonie because of the bird on its reverse face, the Canadian dollar was held back by a weaker performance from equities and oil in the US, while a gloomy consumer confidence report also put the dampers on riskier forex trading.Speaking to Bloomberg, John Curran, a senior vice-president at CanadianForex, said that traders are beginning to pare their exposure to the loonie after the July consumer confidence report."When numbers like this come out showing regular people are not gushing over the recovery scenario, it makes sense to ring the till. Equities, commodities and currencies have all been on a one-way street in the last two weeks," he said.With fractional gains made against the dollar 17:00 in Toronto, the loonie is still the top performing currency among the 16 major currencies tracked by Bloomberg.