Canadian Dollar Falls to Six-Week Low Against Greenback
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Canada’s dollar dropped to a six-week low versus its U.S. counterpart as speculation the European debt crisis is getting worse and concern America’s recovery is slowing sapped risk demand.
The Canadian currency fell below parity as crude oil touched a level lower than $101 a barrel. The so-called loonie is down 1 percent in the past month, according to Bloomberg Correlation-Weighted Indexes, falling along with its commodity-linked peers of Australia, New Zealand and Norway. Canadian 10-year bond yields dropped below 2 percent for the first time in almost a month.