Canadian Dollar Weakens the Most Since June on Flaherty Outlook
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The Canadian dollar fell the most since June versus its U.S. counterpart, erasing all of its gain registered yesterday, as risk aversion rose and Finance Minister Jim Flaherty said the nation may have to revise down its economic outlook.
The currency declined against the majority of its most-traded peers as Flaherty echoed comments from Bank of Canada Governor Mark Carney two days ago. A Federal Reserve report showed manufacturing in the Philadelphia region expanded in October for the first time in six months, raising the allure of the U.S. dollar.