Economics
Canadian Dollar Drops Below Parity as Risk Appetite Ebbs
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Canada’s dollar weakened below parity with its U.S. counterpart for the first time since August as investors’ risk appetite declined.
The currency fell for a fifth day as U.S. equity trading was canceled with Hurricane Sandy barreling toward the East Coast. Moody’s Investors Service warned Oct. 26 it may cut the ratings of six Canadian-based lenders.