The Canadian dollar touched the lowest level in more than a week after the Bank of Canada said its next move on interest rates could be up or down as a forecast pickup in business investment has been slow to materialize.
The dollar rose the most in two weeks against the yen as risk appetite swelled amid a higher- than-forecast gain in U.S. industrial production and as companies’ earnings topped estimates, damping demand for safety.
Canada’s political class laid former Finance Minister Jim Flaherty to rest today at a state funeral in Toronto, where he was lauded for his political pragmatism, his work on behalf of the disabled and his humor.
The euro area’s higher-yielding government bonds are emerging as a haven from emerging-market turmoil as the prospect of greater stimulus from the European Central Bank underpins demand for the securities.
Bank of Canada Governor Stephen Poloz remained neutral on the direction of his next interest- rate move, saying he will look through a quickening of inflation this year with companies still slow to invest.