Canadian Dollar Weakens Against Major Peers on Growth

Canada’s dollar dropped against the majority of its most-traded counterparts as equities declined on deepening concern growth in the economy of the U.S., the nation’s biggest trading partner, is slowing.

The Canadian currency weakened after a report showed retail sales in the U.S. declined in May for a second month. The currency extended losses after Spain’s credit rating was cut three steps by Moody’s Investors Service before Greek elections on June 17. Canada’s industrial companies are forecast to report tomorrow that their use of production capacity held steady, according to a Bloomberg survey.