Canadian Dollar Back to Parity with US Dollar

The Canadian dollar gained on its U.S. counterpart on news that Canadian retail sales rose more than expected in August to gain 0.5 percent for the month. The Bank of Canada is also expected to hold interest rates at 1 percent.

“We’re not expecting much from the Bank of Canada,” said Blake Jespersen, director of foreign exchange in Toronto at Bank of Montreal. “They’ll stick to the script. The bank will be somewhat of a non-event and Europe remains the focus.”

Source: Bloomberg

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