Canadian Dollar Erases Gain as Ukraine Spurs Refuge Flight

The Canadian dollar erased gains as renewed turmoil in the Ukraine prompted traders to seek a refuge in currencies such its U.S. counterpart.

“We are seeing risk assets underperform and that is what is causing the Canadian dollar to move higher,” Martin Schwerdtfeger, a currency strategist at Toronto-Dominion Bank’s TD Securities unit in Toronto, said in a phone interview.

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