Forex
Canadian Dollar Weakens Amid Rising Expectations of US Rate Hike
The Canadian dollar weakened to its lowest level in nine days against the US dollar on Friday, following U.S. inflation data that supported bets for a Federal Reserve interest rate hike next week.
The loonie was trading 0.2% lower at 1.3862 per US dollar, or 72.14 US cents, after touching its weakest intraday level since September 2 at 1.3883.
Erik Bregar, director of FX & precious metals risk management at Silver Gold Bull, attributed the currency's weakness to rising expectations for Fed rate hikes.