Canadian Currency Weakens as Risk Appetite Shrinks

Canada’s dollar fell from the strongest in two weeks against its U.S. counterpart as investor risk appetite shrank after the European Central Bank signaled concern the euro’s strength may hurt its 17-nation region.

The currency almost reached parity with the U.S. dollar for the first time in four days before a report tomorrow forecast to show Canada’s jobs growth slowed. Oil, the nation’s biggest export, fell after weaker U.S. economic data. The euro and the Australian and New Zealand dollars sank versus the greenback as ECB President Mario Draghi said the euro’s gains may hamper efforts to pull the currency bloc’s economy out of recession.