Canada Dollar Falls to 4-Week Low as Poloz Keeps Inflation View

The Canadian dollar fell to a four-week low after the Bank of Canada left interest rates unchanged and repeated concern that low inflation and weak exports are hindering the nation’s economy.

The currency weakened against most of its major peers after Bank of Canada Governor Stephen Poloz left the benchmark interest rate at 1 percent and reiterated that future moves could be either up or down depending on economic data. Canada’s currency has been the worst performer among Group of 10 peers against the U.S. dollar during the past 12 months as the central bank began voicing concern about persistently low inflation and the importance of a weaker Canadian dollar to boost the exports.