Canadian dollar falls to six-week low against US dollar
The Canadian dollar weakened to a six-week low as investors anticipated further Federal Reserve interest rate increases. Lower oil prices and softer domestic housing data also weighed on the currency.
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The Canada dollar fell to a six-week low against its United States counterpart during Wednesday afternoon trading, dropping 0.5% to 1.3990 USD/CAD. The decline follows the Federal Reserve raising its benchmark interest rate by a quarter of a percentage point.
