By DAVID GEORGE-COSH The Canadian dollar fell against the U.S. dollar Wednesday after appetite for riskier assets soured during the overnight session. The U.S. dollar was at C$0.9985 early Wednesday, from C$0.9955 late Tuesday, according to data provider CQG. The Canadian dollar, along with its other risk-sensitive counterparts such as the euro and the Australian dollar, found itself on the back foot as negative sentiment carried through the overnight session after a disappointing retail sales release in Australia. Meanwhile, traders are already taking bets ahead of the European Central Bank's monthly policy announcement and the Bank of England interest rate decision on Thursday, weakening the euro but giving the British pound a firm boost in early Wednesday trading. There are no major data releases scheduled for Wednesday in the U.S. and Canada. Canada's Ivey purchaser managers index will be released at 10 a.m. EST Wednesday. Expectations are for the index to come in at 52.8 for January, but the figure is unlikely to sway the currency market due to its relatively high level of volatility. Write to David George-Cosh at david.george-cosh@dowjones.com

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