BLBG: Canadian Dollar Weakens for Third Day on U.S. Economic Slowdown Concern
Canada’s dollar weakened for a third consecutive day as evidence of a slowing economic recovery in the U.S., the nation’s largest trading partner, reduced prospects for exporters.
The Canadian currency slid 0.5 percent to C$1.0437 per U.S. dollar at 7:46 a.m. in Toronto, from C$1.0383 yesterday. It touched C$1.0277 on July 13, the strongest level since June 23. One Canadian dollar buys 95.81 U.S. cents.
U.S. consumer sentiment fell to 74 this month from 76 in June, according to a separate Bloomberg News survey of economists before today’s release of the Thomson Reuters/University of Michigan preliminary index.
