Canada's Dollar in a Funk as Trade Gap Amps Up Rate-Cut Pressure
Bank of Canada Meets July 15 to Consider Policy Changes
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The outlook for the Canadian dollar just got worse.
The currency has slumped to a three-month low amid declining prices for oil, the nation’s largest export. That's adding to pressure on the Bank of Canada to cut interest rates after a report Tuesday showed the country posted its second-largest trade deficit ever, led by tumbling exports.