Canada Dollar Gains After Jobless Rate Falls to Four-Year Low

The Canadian dollar traded at an almost two-week high against the U.S. dollar after the nation’s jobless rate unexpectedly declined to a four-year low, countering recent signs of slowing economic growth.

The currency rose as much as 0.3 percent versus the U.S. dollar as employers added 39,800 workers to payrolls in December, lowering the unemployment rate to 7.1 percent from 7.2 percent the previous month, Statistics Canada said in Ottawa. Royal Bank of Canada forecast the central bank may boost its interest-rate target twice this year.