Canada Currency Tumbles as Europe Crisis Overshadows Data
This article is for subscribers only.
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 currency touched a four-month low versus its U.S. counterpart, which rose against all of its 16 most-traded peers except the yen on demand for safety. Commodities dropped. Economists predicted a report next week will show retail sales in Canada rose in March.