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.
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.
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.