Canada’s currency rose for the first time in four days as the U.S. dollar fell against most actively traded currencies. The Canadian dollar rose 0.2 percent to C$1.2188 per U.S. dollar at 8:46 a.m. in Toronto, from C$1.2215 yesterday. One Canadian dollar buys 82.05 U.S. cents. “Without any other force, the market is going to hang around the C$1.22 level,” said David Watt, a senior currency strategist at RBC Capital Markets in Toronto. “It’s pretty comfortable there. The market is so thin that it’s going to have short pops, but we’re not getting any momentum.” Canada’s gross domestic product fell 0.3 percent in October, according to the median estimate of 18 economists surveyed by Bloomberg. Statistics Canada is scheduled to release the data tomorrow in Ottawa. “The fourth quarter looks to have started off on a weak note, as manufacturing, wholesale and retail sales activity declined,” Toronto-based RBC Strategist Matthew Strauss wrote in a note today. “On balance, the data signals a significant slowing in the economy relative to September’s 0.1 percent gain.” To contact the reporter on this story: Michael J. Moore in New York at mmoore55@bloomberg.net

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