Canada Dollar Slips From One-Week High as Risk Appetite Shrinks
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Canada’s dollar declined from almost the strongest level in a week as investors’ risk appetite ebbed amid concern Greece’s fiscal struggle will worsen Europe’s debt crisis and as tomorrow’s U.S. presidential election loomed.
The Canadian currency weakened against the majority of its 16 most-traded counterparts as building permits in the country fell at the fastest pace in more than a year and growth slowed at service industries in the U.S., Canada’s biggest trade partner. Greek Prime Minister Antonis Samaras faces a battle to win support for budget measures needed to obtain further aid.