Canadian Dollar Falls as Stock Drop Overshadows Conservative Win
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Canada’s dollar slid for a second day as a drop in global stocks overshadowed national election results that gave Conservative Prime Minister Stephen Harper a majority of seats in Parliament for the first time.
The loonie, as the currency is nicknamed, also fell as commodities dropped before a report tomorrow forecast to show U.S. supplies of crude oil rose to a six-month high last week. America is Canada’s biggest trading partner.