Canadian Dollar Drops to Lowest Since March on Slide in Crude
This article is for subscribers only.
Canada’s dollar fell to its weakest level since March versus its U.S. counterpart as heightened risk aversion pushed commodities and global stocks lower.
The loonie, as the currency is nicknamed for the image of the aquatic bird on the C$1 coin, tumbled versus 15 of the 16 major currencies as crude oil dropped below $97 a barrel. Stocks and raw materials fell as Greece sought more bailout funds. Bank of Canada Governor Mark Carney said future interest-rate moves will be “carefully considered.”