Canadian dollar falls to two-year low as U.S. election concerns weigh

The Canadian dollar fell to a two-year low against the U.S. dollar, trading at 1.3950, down 0.1%. This decline comes amid concerns over the upcoming U.S. presidential election, despite positive domestic factory activity data. The S&P Global Canada Manufacturing Purchasing Managers' Index rose to 51.1 in October, indicating growth in production and employment. However, the U.S. dollar gained strength overall, impacting the loonie's value. Canadian bond yields increased, following trends in U.S. Treasuries. The 10-year yield rose by 6.1 basis points to 3.283%. Oil prices also saw a slight increase, reaching $69.68 a barrel.