By Chris Fournier May 5 (Bloomberg) -- Canada’s dollar fell to the lowest level in more than a month as stocks and commodities dropped on concern Greece’s debt crisis is spreading, reducing demand for currencies related to growth. “Continued developments in Greece are leading to risk aversion in other markets,” said Matthew Perrier, Toronto-based director of foreign exchange at Bank of Montreal, the nation’s fourth-largest lender. That’s driving the Canadian dollar lower, according to Perrier. The Canadian currency depreciated 0.3 percent to C$1.0277 per U.S. dollar at 8 a.m. in Toronto, from C$1.0245 yesterday. It touched C$1.0284, the weakest level since March 29. One Canadian dollar buys 97.31 U.S. cents. Perrier said the “next resistance” for the U.S. dollar versus the Canadian currency sits at the March 26 peak of C$1.0304. Resistance refers to an area where sell orders may be clustered. The greenback rose against most of its 16 major counterparts tracked by Bloomberg, while Canada’s currency fell against 7 of them.

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