The Canadian dollar fell for the third day as investors abandoned riskier investments in favor of the greenback. A 1 percent drop in crude oil futures contributed to the 0.6 percent depreciation to C$1.0613 per U.S. dollar at 8:56 a.m. in Toronto, from C$1.0547 yesterday.
Ã¢â‚¬Å“Risk is off,Ã¢â‚¬Â said Firas Askari, head currency trader in Toronto at Bank of Montreal, CanadaÃ¢â‚¬â„¢s fourth-largest lender. Ã¢â‚¬Å“The U.S. dollar is bouncing across the board.Ã¢â‚¬Â
This article is for general information purposes only. It is not investment advice or a solution to buy or sell securities. Opinions are the authors; not necessarily that of OANDA Corporation or any of its affiliates, subsidiaries, officers or directors. Leveraged trading is high risk and not suitable for all. You could lose all of your deposited funds.