Canada’s Dollar Falls From Month High as Draghi Saps Risk Demand
December 08, 2011, 10:19 AM ESTBy Dennis Fitzgerald
Dec. 8 (Bloomberg) -- Canada’s dollar fell for the first time in four days after European Central Bank President Mario Draghi said he didn’t signal stepping up bond purchases, sapping demand for higher-yielding assets.
The loonie, as Canada’s dollar is also known, dropped from the highest level in a month against its U.S. counterpart as the ECB damped expectations that it will act to stem the region’s sovereign-debt turmoil. The Canadian currency also weakened as crude oil fell.
To contact the editor responsible for this story: Dennis Fitzgerald at dfitzgerald5@bloomberg.net
