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Posted on 18/11/08

Greenback gains spur some profit-taking

FUNDS REPORTER

There was a silver lining for some investors who yanked a record $8.4-billion in mutual funds in October.About $1.5-billion flowed from U.S. money market funds where investors were taking profits as the American greenback rose 13 per cent last month versus the Canadian dollar, according to the Investment Funds Institute of Canada (IFIC).

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