Canadian dollar weakens as oil falls, Fed minutes eyed

By Alastair Sharp

TORONTO (Reuters) – The Canadian dollar on Tuesday reversed most of the gains it made against the greenback the previous day, as oil prices fell and investors boosted the U.S. currency on increased bets that the U.S. Federal Reserve will raise interest rates in December.

The Canadian dollar CAD=D4 settled at C$1.3241 to the greenback, or 75.52 U.S. cents, weaker than Monday’s close of C$1.3175, or 75.90 U.S. cents, according to Reuters data.

Monday’s gain was the loonie’s biggest one-day rally since June, as oil surged and doubts grew over Republican presidential candidate Donald …
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