Darren Richardson News
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The Canadian dollar rose the most in three months against its U.S. counterpart as the U.S. passed a deficit-reduction plan to avoid automatic austerity and head off the threat of recession in the nation’s largest trading partner.
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The Canadian dollar gained the most against the yen in 10 months as the Group of Seven nations, including Canada, intervened in the foreign-exchange markets to stabilize the Japanese currency.
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The Canadian dollar traded near a two-month low versus the greenback after weaker-than-forecast data last week on U.S. jobs and manufacturing spurred concern the recovery of Canada’s biggest trade partner is faltering.
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Canada’s dollar strengthened versus the greenback as crude oil, the nation’s biggest export, climbed to a two-week high.
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Canada’s dollar declined against its U.S. counterpart for a second day, touching below parity, as commodities fell and the country’s inflation rate accelerated less than forecast in December.
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The Canadian dollar rose for a fourth week, the currency’s longest winning streak since May 2009, as the Federal Reserve said it’s willing to ease monetary policy further to boost the U.S. economy, spurring demand for assets that benefit from global growth.
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Canada’s dollar slid to the lowest level in three weeks as concern over Europe’s fiscal woes and signs of a global slowdown drove investors away from higher- yielding assets like stocks and commodities.
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Canada’s dollar lost the most in four months against its U.S. counterpart after a nuclear power- plant crisis caused by Japan’s worst earthquake damped investor appetite for higher-yielding currencies.
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Canada’s dollar fell to a two-week low versus the greenback as concern Europe’s debt crisis will broaden damped investors’ risk appetite and U.S. Treasury yields near seven-month highs made the U.S. currency more attractive.
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Canada’s dollar fell for a fourth consecutive session amid declines in stocks and commodities as concern the global economic recovery is faltering lifted such traditional safety assets as the yen.
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