Canada Dollar Loses Most in Week Since June as CPI Trails Target

Canada’s dollar had the biggest weekly loss in more than two months as the consumer price index rose less than the central bank’s inflation target for a 15th month, adding to evidence economic growth is slowing.

The currency, called the loonie for the image of the bird on the C$1 coin, erased a decline to a six-week low today versus the U.S. dollar after American new-home sales slid more than forecast. The loonie sank against most major peers amid bets the Federal Reserve will slow stimulus. Canadian retail sales dropped in June, a report showed yesterday, and data on Aug. 30 may say growth in gross domestic product slowed.