The Canadian dollar declined the most in more than two weeks after employers unexpectedly eliminated jobs in February, reviving speculation the central bank may need to cut interest rates to bolster economic growth.
The dollar fell to the weakest level of the year after retail sales unexpectedly declined amid signs that adverse-weather conditions are weighing on economic growth as yet another storm battered the eastern U.S.
The dollar fell to a three-week low after U.S. employers added fewer jobs than forecast last month, raising speculation the Federal Reserve may slow the pace of reduction in bond buying amid signs of uneven economic growth.
Canada’s dollar had its worst start to a year since at least 1972 amid speculation the central bank may favor cutting interest rates and as a selloff in emerging markets sent investors to the haven of the U.S. dollar.
The perjury trial of Barry Bonds may hinge on whether jurors believe the baseball home run king, who claims he didn’t know his trainer was giving him steroids, or Jason Giambi , the former New York Yankee expected to testify he was given the muscle-building drugs by the same trainer.
The Canadian dollar strengthened for the first time in three weeks, rallying with the currencies of fellow commodity exporters as the foreign exchange market shrugged off a slump in the prices of raw materials.