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CAD weakens to lowest in four years
The Canadian dollar weakened to hit a more than four-year low against the greenback on Thursday as a recent sell-off continued unabated, reinforcing expectations the currency will be in for a rocky 2014. Investors digested a round of domestic housing data, which showed building permits fell more than expected, as did housing starts, while home prices were unchanged. At the same time, first-time claims for U.S. unemployment benefits declined more than expected last week. "That contrast - better U.S. data versus middling Canadian data - bodes well for the U.S. dollar and is not so good for the Canadian ... (full story)