Joseph Stiglitz “Nobel prize in Economics (2001)” said that the financial crisis could present a “W” shaped behavior; it means that the hard days could have a second trend soon. Stiglitz argument influenced that the U.S. dollar on Tuesday fell to its lowest level against the euro this year as volume returned after a summer calm in attitude. Analysts said the dollar could resume seasonal declines as liquidity increases after a short period in which the greenback rose following upbeat economic indicators in Forex accounts.

The Canadian dollar hit a five-week high against a waning U.S. dollar on Tuesday, helped by rallies in commodity prices and equities, but it lost some steam amid concern about a meeting of the Bank of Canada later in the week.

The surge in the Canadian dollar, which reached its high in the overnight session of C$1.0674 to the greenback, or 93.69 U.S. cents, came alongside a number of other currencies that took advantage of increased investor appetite for riskier assets.

The Bank of Canada did not offer a closing level for the currency on Monday as North American financial markets were closed for Labor Day.