Canada Dollar Rises Most Since August as Jobs Gain Tops Forecast

The Canadian dollar posted its biggest gain versus its U.S. counterpart in almost five months as employers in December added almost twice the number of jobs forecast, lending weight to the government’s view that business investment will fuel an economic rebound.

The currency ended the week higher versus the majority of its 16 most-traded peers after a report yesterday showed Canada’s unemployment rate unexpectedly fell to a four-year low in December and hiring rose for a fifth month. Policy makers project employers to lead the nation out of a slump that slowed annualized growth to 0.6 percent in the third quarter. Bank of Canada Senior Deputy Governor Tiff Macklem will address students at Queen’s University in Kingston, Ontario on Jan. 10.