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C$ weakens against firmer greenback as oil falls
Shoaib Ur Rehman
24 Aug, 2016
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Copyright Reuters, 2016
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![](https://i.brecorder.com/images/2016/08/canadian-dollar-april1.jpg">TORONTO: The commodity-linked Canadian dollar weakened against its firmer US counterpart on Wednesday as oil fell, although losses for the currency were restrained as investors awaited clues this week on the US interest rate outlook.</P><P class=MsoNormal>Oil fell after an unexpectedly large inventory build in the world's biggest oil consumer renewed oversupply concerns. US crude oil futures settled $1.33 lower at $46.77 a barrel.</P><P class=MsoNormal>The US dollar rose against a basket of major currencies ahead of a gathering of global central bankers later this week in Jackson Hole, Wyoming, where the focus will be on Friday's keynote speech by Federal Reserve Chair Janet Yellen.</P><P class=MsoNormal>)