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Canadian dollar weakens as oil hits four-month low
The Canadian dollar weakened against its U.S. counterpart on Thursday, giving back some recent gains, as oil prices tumbled and the rally in equity markets lost some momentum. The loonie CAD= was trading 0.6% lower at 1.3765 to the greenback, or 72.65 U.S. cents after moving in a range of 1.3678 to 1.3776. On Wednesday, it touched its strongest intraday level since Nov. 6 at 1.3652. "The loonie is falling on weaker oil and a paring back on risk sentiment," said Amo Sahota, director at Klarity FX in San Francisco. "The former is the key driver today." The price of oil, one of Canada's major exports, dropped to ... (full story)