2012.05.25 22:34:02 MARKET TALK: CAD Hits Fresh 4-Month Low As Sentiment Sours

4:33 (Dow Jones) The Canadian dollar just notched a session low, also a four-month low, with USD hitting 1.0313, according to CQG. The loonie is also receding against the other key safe-haven currency, the yen, dropping to 77.24 vs 77.49 late Thu. In the absence of any local data or other market drivers, trading continues to be dominated by headlines out of Europe, and those remain resolutely discouraging. Data from the CFTC show speculative accounts continued to pare risk exposure sharply by cutting positions in all commodity currencies, with CAD net longs being reduced to 38.6K contracts in the week ending May 22 from 51K the previous week, notes TD Securities. (don.curren@dowjones.com) Call us at (212) 416-3100 or email bradley.davis@dowjones.com (END) Dow Jones Newswires May 25, 2012 16:34 ET (20:34 GMT)