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Grim News Causes Canadian Dollar to Lag Against Greenback
The Canadian dollar is one of the laggards on Monday following a weekend of disappointing news. OPEC's decision not to cut production, a grim outlook from the Bank of Canada and weaker-than-expected data are some of the reasons behind the loonie's weakness.The Canadian dollar is the second worst performer against the U.S. dollar among the G10 nation currencies. The only currency that is weaker than the loonie is the Japanese yen. It has been a relatively volatile session
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Loonie Remains Vulnerable as Fear Grows
The Canadian dollar is trading at near three-month lows against the U.S. dollar as risk aversion continues to grip currency markets.Rising negative sentiment is helping to support broad gains in the U.S. dollar against the loonie. USD/CAD continues to move higher, with currency strategists eyeing the 1.30 CAD marker. At the moment the cross is trading at $1.29 CAD. The negative sentiment started overnight when the U.S. Treasury released a statement saying it would increase its stake
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