Canada Dollar Falls Versus Major Peers on Slowing Global Growth

Canada’s dollar declined for the first time in four weeks against its U.S. counterpart as oil tumbled and concern increased that the global economy may be slowing, damping investor appetite for higher-yielding assets.

The currency fell against the majority of its 16 most-traded peers as Canada’s inflation rate unexpectedly slowed for a second month, dimming the outlook for higher interest rates. Canada’s dollar declined on Sept. 20 the most in eight weeks after economic reports from the U.S., Europe and China indicated growth may be slowing. Canada’s gross domestic product is forecast to grow at 0.1 percent pace in July, down from 0.2 percent in June, according to a Bloomberg survey due Sept. 28.