Canadian Dollar Rises as Economy Adds More Jobs Than Forecast
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The Canadian dollar strengthened to the highest level in more than two weeks as the nation added jobs at triple the pace forecast last month, indicating the recovery remains resilient as U.S. employment growth falters.
The currency rose against the majority of its most-traded peers as Statistics Canada said the economy added 59,200 positions in August, compared to the 20,000 forecast in a Bloomberg survey of 22 economists. The unemployment rate fell to 7.1 percent from 7.2 percent. The U.S., the nation’s biggest trading partner, added 169,000 jobs in August, compared to the 180,000 forecast in a separate Bloomberg survey.