The Canadian dollar fell to its lowest level in more than four months before a report projected to show inflation fell below the Bank of Canada’s target, an indicator the central bank has said will help determine policy.
The Canadian dollar had its biggest weekly gain in 20 months against a basket of nine developed- nation currencies as better-than-forecast North American economic reports contrasted with slowing European growth.
The Canadian dollar rose against a majority of its 16 most-traded peers after a report yesterday that the nation’s economy grew more than forecast in August eased concern caused when the Bank of Canada lowered growth forecasts last week.
The dollar touched the lowest level in eight months against a basket of 10 major peers on concern political wrangling over the U.S. debt limit disrupted growth and will prompt the Federal Reserve to delay tapering stimulus.
The Canadian dollar rose to a four- week high against its U.S. counterpart on speculation weaker- than-forecast America jobs gains last month will delay the Federal Reserve from tapering its monetary stimulus.
Barry Bonds, who holds Major League Baseball’s career and single-season home-run records, was properly convicted in 2011 for obstructing a U.S. probe of steroids in professional sports, a federal appeals court said.