Tuesday saw the Canadian dollar fall against the world’s reserve currency and the Japanese yen as the monetary unit also monitored poor performances of copper and crude oil futures, according to published reports.
Tugging down the loonie as well were remarks by the Japanese economic minister who noted dangers are in play against the yen as monetary easing continues in the nation hosting the globe’s third-largest economy.
The Canadian currency had its sharpest dive against the U.S. dollar in one week on Tuesday; it also had its biggest drop against the Japanese yen since the end of June 2012.
At 9:55 a.m. on Tuesday, WTI crude oil futures fell 0.33 percent, a 31-cent loss to $93.83 per barrel and Brent crude oil futures fell 0.57 percent, a 64-cent loss to $111.18 per barrel. At 10:03 a.m., copper futures fell 0.66 percent, a 0.024-cent loss to $3.61 per pound.
The Canadian Press reports the energy commodity and the reddish metal felt the pinch of the world’s reserve currency gaining in value, which occurred as preoccupations developed about debt ceiling negotiations.
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