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Crude Oil Tumbles Pushing Canadian Dollar Down
TheCanadian dollar is extremely linked tothecrude oil andequities markets performance, andafter aday ofrising risk aversion, theloonie declined asappeal forcommodities andstocks dropped.
high versus theU.S. dollar this week asrisk appetite surged inthebeginning oftheweek, theCanadian currency witnessed adeclined asstocks pared gains anddemand forcommodities declined, halting theloonie’s rally anderasing its previous weekly gains partially.
USD/CAD traded at1.0507 asof22:10 GMT from aprevious rate of1.0467 intheintraday.