Canadian Dollar Rises as September Jobs Growth Exceeds Forecast

Canada’s dollar snappped a four-day loss against its U.S. counterpart after a report showed jobs growth last month exceeded forecasts and the unemployment rate unexpectedly fell.

The loonie, as the currency is nicknamed, strengthened as Canada added 11,900 jobs in September and the unemployment rate fell to 6.9 percent. Economists surveyed by Bloomberg News projected a 10,000 job increase and an unchanged jobless rate at 7.1 percent, according to the median forecasts. The currency has fallen this week as politicians in the U.S., Canada’s biggest trade partner, face a stalemate on agreements to fund the government and raise the nation’s debt limit.