Canadian Dollar Falls on Concern BOJ Measures Will Fall Short

The Canadian dollar fell to almost the lowest point in three weeks versus its U.S. counterpart and depreciated for a second day against the yen on speculation the Japanese currency may have dropped too much too quickly.

The Canadian currency declined against the majority of its most-traded peers, falling along with other higher-yielding assets as traders boosted bets further stimulus from Bank of Japan officials, who began a two-day policy meeting today, may fail to weaken the yen much more. Canada’s dollar, known as the loonie, trimmed losses after the federal statistics agency reported wholesale sales grew more than the median forecast in a Bloomberg News survey.