Canadian Dollar at Highest in Two Weeks on Bets for Jobs Growth
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The Canadian dollar strengthened to its highest point in more than two weeks before a jobs report expected to show the Canadian economy added positions for the first time in three months in August.
The currency rose against the majority of its most traded peers ahead of a report expected to show jobs were also created in the U.S., Canada’s largest trading partner. Canada created 20,000 jobs in August after shedding 39,400 positions the previous month, according to the median estimate of a Bloomberg survey of 22 economists. The unemployment rate was unchanged in August at 7.2 percent, a separate survey showed.