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Canadian dollar dips as oil falls, investors demand greenbacks

by_fergal_smith
Canadian dollar dips as oil falls, investors demand greenbacks

The U.S. dollar jumped as concerns grew that the latest round of U.S.-China talks may not yield a deal between the world's largest economies before the March deadline. "People want to be long U.S. dollars here," said Scott Lampard, head of global markets at HSBC Bank Canada. "The sense is that the rest of the world is slowing at a pace that is more rapid than the U.S." Canada is a major producer of commodities, including oil, so its economy could be hurt by a slowdown in the global economy.