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CANADA FX-C$ slumps on more dovish Bank of Canada
January 23, 2013 / 3:11 PM / 5 years ago

CANADA FX-C$ slumps on more dovish Bank of Canada

TORONTO, Jan 23 (Reuters) - The Canadian dollar weakened to a session low against the U.S. dollar on Wednesday after the Bank of Canada held interest rates steady and said a future rate hike was “less imminent” as it reduced its growth forecasts.

The Canadian dollar traded at C$0.9972 to the greenback, or $1.0028, compared with C$0.9930 just before the central bank news and C$0.9927 at Tuesday’s North American close.

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