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Canadian Dollar Falls From 1-Week High as U.S. Impasses Persists

The Canadian dollar fell from its highest level in a week as rifts emerged between U.S. politicians seeking to end a government shutdown and stave off potential default in Canada’s biggest trading partner.

The currency weakened against the majority of its most-traded peers as leaders in the U.S. Senate put on hold bipartisan talks to end the fiscal impasse and Democrats rejected an alternative plan proposed by Republicans in the House of Representatives. Fitch Ratings Ltd. placed the U.S.’s AAA credit rating on negative watch, citing failure to raise the $16.7 trillion debt ceiling in a timely manner.