Canadian dollar hits 3-week low

Business Recorder-Debriefer
2019-11-10 | Since 8 Month

Canadian dollar

The Canadian dollar weakened to a three-week low against its US counterpart on Friday as data showing a surprise decline in domestic jobs added to pressure on the currency since the Bank of Canada shifted to a more dovish stance.

Canada lost 1,800 jobs in October after robust job growth over the previous two months, data from Statistics Canada showed. Analysts had expected jobs to rise by 15,900.

At 3:30 p.m. (2030 GMT), the Canadian dollar was trading 0.4% lower at 1.3228 to the greenback, or 75.60 US cents. The currency touched its weakest intraday level since Oct. 16 at 1.3237.

For the week, the loonie was down 0.7%.

Canadian government bond prices were higher across the yield curve, with the two-year up 8.5 Canadian cents to yield 1.584% and the 10-year rising 32 Canadian cents to yield 1.581%.

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