Canadian Dollar Falls for Fifth Day as Commodities, Stocks Drop
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Canada’s dollar weakened for a fifth day against its U.S. counterpart in the longest losing streak since October as crude oil, the nation’s biggest export, dropped amid ebbing risk appetite.
The currency fell to the weakest level since July as commodities and global stocks sank a day after minutes of the Federal Open Market Committee’s last meeting spurred bets the U.S. central bank may slow its monetary stimulus. The American dollar rose versus most major peers as investors sought refuge amid concern U.S. lawmakers will fail to head off $1.2 trillion in automatic spending cuts set to begin next week.