Canada’s dollar traded below parity versus the greenback for a third day on concern U.S. lawmakers won’t agree on deficit reduction and risk pushing the nation’s biggest trading partner over the so-called fiscal cliff.
The loonie, nicknamed for the image of the aquatic bird on the $1 coin, rose 0.29 cents to 99.90 U.S. cents after dropping Wednesday to a three-month low.
A report showed Canadian factory sales rose a second month in September on gains in aerospace and primary metals.
It’s the first time since August the loonie has traded weaker than parity for three consecutive days on a closing basis. – Bloomberg News