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Canadian Dollar Weakens

Calgary, AB, Canada / RTBN
Canadian Dollar Weakens

The Canadian Dollar weakened again on October 31st after data showed that surprise contraction of the domestic economy supported the Bank of Canada’s warning for future interest rate hikes.

 

Canada GDP went down .1% in August after a flat growth in July.

 

At 2pm MT, the Canadian dollar was trading at $1.2900 or 77.52 U.S. cents, which is down .5 percent

 

The gap between Canada and U.S. widened by 3.2 basis points to a spread of -20.7 basis points, which is the widest spread since July of 2011.

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