Canada Dollar Trades Weaker Than Parity Versus U.S. for 7th Day
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The Canadian dollar traded below parity against its U.S. counterpart for the seventh day even as a report showed the world’s 11-largest economy grew faster than forecast in November.
The currency, nicknamed the loonie for the image of the aquatic bird on the C$1 coin, fluctuated after Canada’s gross domestic product expanded 0.3 percent, the fastest pace in seven months, Statistics Canada said today in Ottawa. The median forecast in a Bloomberg economist survey was for a 0.2 percent expansion. The loonie dropped earlier after a report showed German retail sales fell more than economists predicted last month.