The Canadian dollar rose for a second day after job creation rebounded, damping speculation the Bank of Canada will cut interest rates to spur the economy.
Canada’s dollar dropped the most since November, falling for a third straight week as concern Europe’s debt crisis will worsen overshadowed government data showing inflation and factory sales rose more than forecast.
The yen rose the most in three years against the dollar as the Bank of Japan refrained from adding more stimulus measures that tend to weaken a currency.
"We've seen substantial moves across a range of currencies. Seemingly they've decided it's no longer tenable and they want to try and offset the pressure they've been under. They are just looking to ease policy and moving toward a more negative deposit rate as a possible defense line."
- Jeremy Stretch on Jan 15, 2015
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