Canadian Dollar Below Parity as Employment Unexpectedly Shrinks
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Canada’s dollar weakened below parity with its U.S. counterpart for the first time in five days as employment unexpectedly dropped in January, adding to concern the world’s 11th-largest economy is slowing.
The currency fell against 13 of its 16 most-traded peers as the country also posted its ninth straight monthly trade deficit and housing starts for January fell to the lowest since the end of the 2009 recession. In the previous five months, Canada’s economy gained 183,900 jobs.