Canadian Dollar Declines as Jobless Rate Unexpectedly Increases
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Canada’s dollar dropped against most of its major counterparts after a government report showed the jobless rate unexpectedly increased in October as the nation’s employers eliminated positions.
The Canadian currency slid for the first time in three days versus its U.S. counterpart on reduced demand for risk after Germany’s Chancellor Angela Merkel said Group of 20 leaders were unable to agree on International Monetary Fund resources. Canada’s 10-year bonds rallied on the lost jobs, with yields headed for their biggest weekly decrease since December 2008.