Canada Dollar Falls on Speculation GDP Contracted
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The Canadian dollar weakened to the lowest level in eight months as slower-than-forecast growth in the U.S., the nation’s largest trading partner, added to concern a report tomorrow will show the economy contracted.
The currency fell against the majority of its most-traded peers as the current-account deficit narrowed less than economists surveyed projected. Canadian gross domestic product shrank 0.2 percent in December, resulting in fourth quarter growth holding steady at 0.6 percent, according to the median estimates of two Bloomberg News surveys.