TORONTO: The Canadian dollar fell against its US counterpart on Friday and was on track for a weekly decline as the intensifying war in Ukraine triggered a flight to quality, overshadowing encouraging US jobs data. Equity markets globally sank, while commodities and the save-haven US dollar soared as the war in Ukraine escalated, with Russia seizing a big nuclear plant.
US employers hired far more workers than expected in February, pushing the labor market closer to maximum employment. Canada sends about 75% of its exports to the United States, including oil.
Comments
Comments are closed.