Canadian Dollar Falls as Stocks Decline

After three days of gains, the Canadian dollar fell as profit-taking had stocks on the decline. The loonie lost 0.3 percent to C$1.0230 per U.S. dollar at 7:44 a.m. in Toronto, compared with C$1.0200 yesterday.

“It’s all about what the big dollar is doing,” Firas Askari, head currency trader in Toronto at Bank of Montreal, Canada’s fourth-largest lender, said via e-mail. Weakness in both stocks and oil “doesn’t help the loonie.”

Source: Bloomberg

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