Canadian dollar weakens for third day as oil slides

The Canadian dollar weakened against its U.S. counterpart on Wednesday as oil prices tumbled and despite minutes from the Bank of Canada's latest meeting showing that some policymakers saw the need for more interest rate hikes. Some of the currency's move in recent days has been part of a normal correction while the recent slide in the price of oil has also been a factor, said Darren Richardson, chief operating officer at Richardson International Currency Exchange Inc. Oil, one of Canada's major exports, settled 2.6% lower at $75.33 a barrel on concerns over waning demand in the U.S. and China.