Canadian dollar hits near 4-week low versus firmer US$

Toronto

THE Canadian dollar weakened to a nearly four-week low against its US counterpart on Wednesday as oil prices fell and the greenback added to this week's gains against a basket of major currencies.

The US dollar was helped by data showing the US economy grew faster than initially thought in the third quarter, notching its quickest pace in three years as increases in business investment in inventories and equipment offset a moderation in consumer spending.