Canada’s dollar slid from near the strongest level in more than three weeks after commodities including crude oil, the nation’s biggest export, reversed gains, diminishing the appeal of growth-linked currencies.
A $22 billion disease-fighting fund backed by donors including Chevron Corp. and the Bill and Melinda Gates Foundation lacks sufficient safeguards to prevent fraud and must reform to remain effective, a review found.
Canada’s dollar strengthened to a more than three-week high versus the greenback as optimism about growth in the U.S. and China, the world’s two largest economies, fueled investor appetite for higher-yielding assets.
The Bill & Melinda Gates Foundation, the world’s richest charity, will give $750 million over six years to the Global Fund to Fight AIDS, Tuberculosis and Malaria after some government donations declined or stopped.
Canada’s currency weakened the most in more than a month against its U.S. counterpart as heightened concern about Europe’s debt woes and conflict between North and South Korea increased demand for assets considered havens.
The recent deceleration in U.S. health-care costs appears to be at least partially structural, and not entirely due to a still-lackluster economy. That offers some hope that the slowdown will continue. Still, more needs to be done to encourage the trend.