BS: Canada’s Dollar at Almost Three-Year Low Amid Bets on Fed Impact
The Canadian dollar traded at almost the lowest level in three years amid speculation it will weaken against its U.S. counterpart as the Federal Reserve prepares to reduce stimulus.
The loonie, as the Canadian dollar is known for the image of the aquatic bird on the C$1 coin, was little changed at C$1.0586 per U.S. dollar at 7:56 a.m. in Toronto. One loonie buys 94.46 U.S. cents. It touched C$1.0684 on Dec. 4, the lowest closing since May 2010, after the Bank of Canada left interest rates unchanged and warned of low inflation.
To contact the reporter on this story: Cecile Gutscher in Toronto at cgutscher@bloomberg.net
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To contact the editor responsible for this story: Dave Liedtka at dliedtka@bloomberg.net
