Canadian dollar takes a hit from weak equities

The Canadian dollar slipped against the US dollar in lackluster trading on Monday, as equity markets tumbled on credit market fears, lessening the appeal of North American assets and the demand for Canadian dollars to buy them. The Canadian dollar closed at C$1.0509 to the US dollar, or 95.16 US cents, down from C$1.0486 to the US dollar, or 95.37 US cents, at Friday's close.
The currency stayed in a fairly tight range of C$1.0440 and C$1.0515, even while trading was thin, due to a market holiday in Britain, which tends to amplify moves.