The Canadian dollar fell to the lowest level in two years as weak exports added to concern expressed by Bank of Canada policy makers that a projected driver of economic growth has not yet materialized.
Canada’s dollar reached the weakest in more than two months on speculation a strengthening U.S. economy will prompt the Federal Reserve to reduce stimulus measures that have helped to bolster growth worldwide.
Australia’s dollar headed for its first weekly advance in four versus the yen as expectations of continued monetary stimulus from major central banks buoyed demand for the South Pacific nation’s higher-yielding assets.
India’s largest foreign-exchange intervention since the Lehman Brothers Holdings Inc. bankruptcy has helped smooth swings in the rupee, giving policy makers time to revive the economy, IDBI Bank Ltd. and UBS AG say.
Canada’s dollar rebounded from almost the weakest level in two months on speculation the Canadian economic recovery is gathering steam and Federal Reserve policy makers will prolong its bond purchases.
The Czech central bank began unlimited koruna sales “for as long as needed” to ease monetary policy after inflation slowed to the least in 3 1/2 years. The Czech currency plunged the most since at least 1999.
In the space of 20 minutes on the last Friday in June, the value of the U.S. dollar jumped 0.57 percent against its Canadian counterpart, the biggest move in a month. Within an hour, two-thirds of that gain had melted away.