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Canadian Currency Weakens as U.S. Economy Overshadows Recovery

Canada’s dollar fell for the first time in three weeks against its U.S. counterpart as commodity prices weakened and the quickening pace of the American economy overshadowed the nation’s recovery.

The currency slid yesterday and May 9 as a strengthening U.S. dollar climbed against most of its 16 major counterparts after American job gains spurred bets the Federal Reserve will taper its stimulus. Canada’s dollar rose versus most major peers. Canadian inflation slowed to zero in April, a report next week is forecast to show.