Canada Dollar Falls From Almost 3-Month High on Trade Gap

Canada’s dollar fell from the strongest in three months versus its U.S peer as the nation’s trade deficit widened to the fourth-largest on record, suggesting the economy is struggling to emerge from an export-driven slump.

The currency gained earlier after China’s inflation quickened as its economy grew faster than projected. Canada recorded a C$1.96 billion ($2 billion) trade deficit in November, up from a revised C$552 million shortfall in October, Statistics Canada said in Ottawa. The median estimate in a Bloomberg survey of economists was for a C$600 million deficit. Crude oil, Canada’s biggest export, fell.