Canadian Dollar Declines Before July Consumer Inflation Report

Aug. 23 (Bloomberg) -- The Canadian dollar fell versus the majority of its most-traded peers before July consumer price index data that is forecast to remain below the Bank of Canada’s 2 percent inflation target.

Consumer prices rose 1.4 percent last month from a year earlier, according to a Bloomberg survey.

The loonie, as the Canadian dollar is known for the image of the aquatic bird on the C$1 coin, weakened 0.4 percent at C$1.0554 per U.S. dollar at 7:50 a.m. in Toronto. One loonie buys 94.75 U.S. cents.

To contact the reporter on this story: Joseph Ciolli in New York at jciolli@bloomberg.net

To contact the editor responsible for this story: Dave Liedtka at dliedtka@bloomberg.net