From Bloomberg:
Canada’s dollar traded near the lowest in a week versus its U.S. counterpart as retreats by oil and stocks damped the attraction of higher-yielding assets.
“People are getting out of riskier trades,†said Philippe Denolf, a currency trader at Laurentian Bank of Canada in Montreal. “The correlation remains intact between stocks and the Canadian dollar. Oil is off as well. All these things are making the Canadian dollar less attractive.â€Â
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