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Canadian Financial Close: Canadian dollar strengthens at close

Winnipeg, MB, Dec. 4, 2017 (CNS Canada), Dec 04, 2017 (Commodity News Service Canada, Inc. via COMTEX) --

WINNIPEG, Dec. 4 - The Canadian dollar rose Monday, despite a drop in the price of oil.

Oil fell more than one per cent Monday on profit-taking as the market eyed signs of rising United States production, though prices remained close to recent two-year highs thanks to last week's decision by OPEC and other producers to extend output cuts. Brent crude futures settled down US$1.28, or two per cent, at US$62.45 per barrel.

The Canadian dollar settled Monday at US$0.7877 or C$1.2695, compared to Friday's North America close of US$0.7856 or C$1.2729.

In Toronto, the S&P/TSX Composite Index dropped Monday by 69.94, or 0.44 per cent, to 15,969.03.

     Canada's agricultural sector performed as follows:
     AGT Food and Ingredients-----dn  $ 0.46    at $ 19.59
     Agrium Incorporated----------dn  $ 4.05    at $136.46
     Buhler Industries------------up  $ 0.01    at $  4.60
     Maple Leaf Foods-------------up  $ 0.55    at $ 35.61
     Potash Corp. of Sask---------dn  $ 0.74    at $ 24.19

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