�We've highlighted one reason why the Bank of Canada has avoided conceding that a hike down the road is now much more probable than a cut: its reluctance to do anything that might send the Canadian dollar stronger,� said chief economist Avery Shenfeld ...
The Canadian dollar weakened against most of its major peers after the nation unexpectedly lost jobs last month, bolstering the case the central bank made earlier this week for waiting to raise interest rates.
The Canadian dollar is coming off a rough week in which it lost about 200 points to its US cousin. In economic news, the Empire State Manufacturing Index jumped to 27.5 points in August, well above expectations.
TORONTO -- The Canadian dollar closed sharply higher Wednesday, benefiting from a major deal that will see American fast food giant Burger King buy Canadian coffee and doughnut chain Tim Hortons for $12.5 billion.