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Canadian Dollar Declines Before July Consumer Inflation Report

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.

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