BLBG: Canadian Currency Declines From Strongest Level Since January
Canada’s dollar fell from the highest level since January before results this week of U.S. financial stress tests and reports on American and Canadian labor markets.
The Canadian currency dropped 0.2 percent to C$1.1877 per U.S. dollar at 8:27 a.m. in Toronto, from C$1.1852 last week. It touched C$1.1799, the strongest level since Jan. 9. One Canadian dollar buys 84.20 U.S. cents.
Stress tests on the biggest U.S. banks by the Federal Reserve, originally scheduled for release today, will be disclosed after U.S. markets close on May 7, according to a government official who spoke on condition of anonymity.
The U.S. and Canada will release reports the next day that are forecast to show employers in both countries continued to cut jobs.
