Canada Dollar Falls for Fourth Day on Global Slowdown Concern

Canada’s dollar fell for a fourth day versus its U.S. counterpart as concern that much of the world’s economy is already in recession sent crude oil to a close below $77 a barrel and U.S. stocks lower.

The currency still advanced against most of its major counterparts after a report showed manufacturing accelerated last month in the U.S., Canada’s biggest trading partner. The loonie, as the currency is nicknamed, dropped to the weakest level versus the U.S. dollar in a year on concern the global economy is veering toward another liquidity crisis.