Economics
Canadian Dollar Falls for Second Day on Lower China Growth View
This article is for subscribers only.
Canada’s dollar weakened versus its U.S. counterpart for a second day and fell against a majority of its most-traded counterparts after China lowered its growth forecast, crimping demand for higher-risk assets.
The currency touched the lowest level in almost a week versus the greenback and dropped for the first time in five days versus the yen. Canada’s central bank meets on March 8 to determine interest rates, with all 25 economists in a Bloomberg survey predicting no change from 1 percent. Crude oil gained and stocks fell.