Canadian Currency Declines as Gain in Employment Trails Forecast
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Canada’s dollar dropped the most in three weeks against its U.S. counterpart after employers added fewer jobs than forecast in April, fueling concern the nation’s economic recovery is slowing.
The currency fell for a second day as the U.S. dollar climbed versus all of its 16 most-traded counterparts amid bets the Federal Reserve may slow its monetary stimulus on signs the economy of Canada’s biggest trading partner is improving. The Canadian dollar rose versus most other major peers. The yen tumbled past 101 to the greenback for the first time since 2009.