C$ dips as safe-haven currencies outperform

TORONTO: The Canadian dollar pared some of this week's gains on Wednesday against its US counterpart as political uncertainty in Washington supported safe-haven currencies, while domestic manufacturing sales rose in line with economists' expectations.

Manufacturing sales rebounded 1.0 percent in March, driven by gains in the motor vehicle sector and record sales in the food industry, data from Statistics Canada showed.

The yen and the Swiss franc outperformed as the US dollar

fell against a basket of major currencies. Talk that President Donald Trump could face the threat of impeachment weighed on risk-sensitive assets, including richly valued stocks.