Canadian Currency in Tightest Range Since 1996 as Growth Slows

Canada’s dollar traded in the tightest weekly range in 16 years as economic growth slowed more than forecast and U.S. lawmakers struggled in a budget showdown that may push the nation’s biggest trade partner into recession.

The currency fell versus its U.S. peer this week as Bank of Canada Governor Mark Carney was named to head the Bank of England, spurring speculation over who will replace him in Ottawa. The BOC meets next week on interest rates. Canadian 10-year government bond yields slid the most in two months as investors sought safety amid data that included the nation’s second-largest current-account deficit on record.