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Forex

Canadian Dollar Weakens to 12-Week Low Amid Stalled Growth

Guavy AI Editorial Team
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USD CAD
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The Canadian dollar has weakened to its lowest level in about 12 weeks, reaching around 1.42 per US dollar in September.

This decline is attributed to stalled domestic growth and the strengthening of the US dollar.

According to advance estimates, real GDP increased by 0.2% in August, with gains in mining and quarrying and retail trade offsetting a decline in oil and gas extraction.

The result was in line with expectations but highlighted a weaker start to the third quarter.

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