Canadian Dollar Falls to Two-Week Low on Global Economic Concern
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Canada’s dollar dropped to a two-week low versus the greenback as concern the global economy is slowing reduced demand for higher-yielding assets.
Canada’s 30-year bond yield fell for the sixth straight day, sliding to a record low 3.16 percent, according to Bloomberg data beginning in December 1990. The Canadian currency slid against the yen and Swiss franc as stocks declined on an unexpected reduction in U.S. consumer spending. President Barack Obama signed legislation to raise the debt ceiling after it was passed by Congress.