Canada Dollar Falls on Fed View to Trail Higher-Yielding Assets
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Canada’s dollar fell against the majority of its most-traded peers as the Federal Reserve damped speculation reduced monetary stimulus was imminent, crimping demand for the currency versus other higher-yielding assets.
Mexico’s peso led those that rallied against Canada’s currency this week even as crude oil, the nation’s largest export, reached a 16-month high and equities gained. Stephen Poloz at his inaugural policy meeting as Bank of Canada governor kept the benchmark rate at 1 percent, the 23rd in a row with no change. Statistics Canada may report July 23 that May retail sales rose the most since February.