Canadian Dollar Extends Weekly Losing Streak
The Canadian dollar declined for the fourth consecutive week against the US dollar. Falling oil prices and widening interest rate spreads drove the currency lower.
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The Canada dollar fell 0.3% to 1.4257 per USDCAD on Friday, extending its weekly decline to 0.8%. This marks the fourth straight weekly drop for the currency amid falling oil prices. The United States dollar continues to strengthen against major currencies as global investors seek safety.
