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Canada Dollar Reaches One-Week High on BOC Language
Canada’s dollar touched the strongest level in more than a week after the country’s central bank removed the word “neutral” from its policy statement, fueling bets officials are more open to raising interest rates. The currency weakened earlier after a report showed retail sales unexpectedly decreased in August for a second month. The Bank of Canada left the benchmark interest rate unchanged at 1 percent, as forecast by all 24 economists surveyed by Bloomberg. Government bonds fell. “What we see is a statement that is less dovish than we anticipated,” Bipan Rai, director of foreign-exchange strategy at ... (full story)