Economics
Canada Dollar Declines for a 3rd Week as Economic Growth Stalls
This article is for subscribers only.
Canada’s dollar depreciated for the third straight week, the longest string of losses since August, as a rally in higher-risk assets faded, stoking demand for havens such as the yen, U.S. dollar and Swiss franc.
The currency touched the lowest level this month yesterday, reflecting diminished confidence in the nation’s economy after reports during the week on retail sales and consumer prices trailed median forecasts. Futures trading shows a reduced likelihood of interest-rate increases. Canadian Finance Minister Jim Flaherty will present the government’s budget on March 29.