"TORONTO (Reuters) - The Canadian dollar retraced a lot of ground lost during the day on Monday, finishing near where it began the North American session, as market players recovered from an Internet hoax that said Canada's finance minister, Paul Martin, will quit politics.
The currency ended at C$1.5988 to the U.S. dollar, or 62.55 U.S. cents, down from C$1.5942 to the U.S. dollar, or 62.73 U.S. cents, at the previous close, but above lows around C$1.6020.
The currency's decline to one-month lows on Monday was sparked by an April Fool's Day Internet spoof that said the market-friendly Martin will leave politics to breed cows and ducks. And the fall continued even as the rumor was denied."
The currency ended at C$1.5988 to the U.S. dollar, or 62.55 U.S. cents, down from C$1.5942 to the U.S. dollar, or 62.73 U.S. cents, at the previous close, but above lows around C$1.6020.
The currency's decline to one-month lows on Monday was sparked by an April Fool's Day Internet spoof that said the market-friendly Martin will leave politics to breed cows and ducks. And the fall continued even as the rumor was denied."