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Canadian dollar nears four-month low on oil price fall, pipeline setback

by_fergal_smith
Canadian dollar nears four-month low on oil price fall, pipeline setback

The price of oil, one of Canada's major exports, fell for the 10th straight day, the longest losing streak since July 1984, as global supply increased and investors worried that oil demand growth could slow. U.S. crude oil futures settled 0.8 percent lower at $60.19 a barrel. "The drop in oil is a kick in the teeth for the Canadian dollar," said Adam Button, chief currency analyst at ForexLive.