Canadian dollar hits four-week low on risk aversion
The loonie hit a four-week low of 1.3712 as U.S. inflation rose. Risk aversion and weak jobs data weighed on the currency despite a rise in crude oil prices.
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Canada's dollar fell 0.3% to 1.3712 per U.S. dollar on Tuesday. The currency hit its weakest intraday level since April 16 as U.S. inflation data strengthened the greenback. Investors face pressure from domestic labor market weakness and geopolitical uncertainty surrounding trade.
