Loonie Touches Weakest in Month After Revised Rate Expectations
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Canada’s dollar touched the weakest level in a month as crude oil declined and traders repriced expectations for Bank of Canada interest-rate increases in light of economic data that suggests a slowing recovery.
Canada’s dollar, nicknamed the loonie, capped its second weekly loss on Aug. 20. The currency earlier last week appreciated on speculation a potential takeover of Potash Corp. of Saskatchewan Inc. may spark more demand for Canadian commodity producers.