Canada Dollar Breaks Parity as Growth Beats Expectations
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The Canadian dollar was worth more than its U.S. counterpart for the first time in a week after a government report showed the economy grew faster than forecast in November.
The currency rose against the majority of its most traded peers after the Canadian economy grew 0.3 percent to an annualized C$1.56 trillion ($1.56 trillion), following a prior gain of 0.1 percent, Statistics Canada said today in Ottawa. The median forecast in a Bloomberg economist survey was for a 0.2 percent expansion in the month. Canada’s currency has weakened 0.8 percent this month, the most since October.