TORONTO: The Canadian dollar weakened to a more than two-month low against its US counterpart on Tuesday as oil prices fell and the greenback broadly rose, while investors weighed a decision by Canada’s government to purchase a major oil pipeline project.
The Canadian government said it will buy Kinder Morgan’s Trans Mountain pipeline expansion for C$4.5 billion. Kinder Morgan has been frustrated with delays caused by British Columbia’s government, which is concerned about possible oil spills.
Source: Brecorder
