The Canadian dollar fell 0.3 percent against a stronger US dollar on Thursday, as weak data out of Europe had investors buying greenbacks, with a sharp drop in equities adding to the negative atmosphere. Domestic bond prices rallied on a flight to safety, partly due to the steep losses on stock markets as well as on weak US economic data.
The Canadian currency closed at C$1.0133 to the US dollar, or 98.69 US cents, down from C$1.0103 to the US dollar, or 98.98 US cents, on Wednesday. The currency is down 0.7 percent against the greenback so far this week. "Most of the Canadian dollar weakness you've seen has really been in sympathy with other currencies, such as the euro and the Australian dollar, weakening off over the last two or three days as well," said Shane Enright, currency strategist at CIBC World Markets.
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