The Canadian dollar fell for the third day as investors abandoned riskier investments in favor of the greenback. A 1 percent drop in crude oil futures contributed to the 0.6 percent depreciation to C$1.0613 per U.S. dollar at 8:56 a.m. in Toronto, from C$1.0547 yesterday.
“Risk is off,” said Firas Askari, head currency trader in Toronto at Bank of Montreal, Canada’s fourth-largest lender. “The U.S. dollar is bouncing across the board.”
Bloomberg