BLBG: Canadian Dollar Erases Gain Versus Greenback After Touching One-Month High
The Canadian currency erased its gain versus the greenback and traded little changed after a report showed U.S. consumer confidence trailed economists’ forecasts.
Canada’s dollar earlier touched the highest level in more than a month as rising equities and stronger prices for commodities boosted the appeal of currencies tied to growth. Crude oil dropped 0.7 percent to $78.41 a barrel.
The Canadian currency traded at C$1.0356 per U.S. dollar at 10:51 a.m. in Toronto, compared with C$1.0323 yesterday. It earlier touched C$1.0256, the highest level since June 22. One Canadian dollar buys 96.56 U.S. cents.
