C$ lags most other G10 currencies as stocks retreat

Shoaib Ur Rehman December 17, 2018

TORONTO: The Canadian dollar weakened against its US counterpart on Monday, underperforming most other G10 currencies as lingering worries about global growth weighed on stocks ahead of a potential interest rate hike this week from the Federal Reserve.

Wall Street lost ground as edgy investors waited for the Fed’s monetary policy guidance on Wednesday and its implications of slowing global growth. Canada exports many commodities, including oil, so its economy could be hurt by slower global growth. US crude prices were down 0.2 percent at $51.12 a barrel.

Copyright Reuters, 2018
 

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