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Canadian Dollar at Lowest in 3 Years on Rate-Cut Wagers

Canada’s dollar fell to the lowest in three years as central-bank Governor Stephen Poloz warned of low inflation, spurring bets the Bank of Canada will keep interest rates on hold as the Federal Reserve trims bond-buying.

The currency touched C$1.07 as it declined for a fourth day against its U.S. peer after a private report showed American companies boosted payrolls more than forecast in November. The data added to wagers the Federal Reserve will cut asset purchases as soon as this month, even as Poloz in Ottawa said in a statement “the substantial monetary policy stimulus currently in place remains appropriate” as he kept interest rates unchanged.