C$ hits 3-month low as CPI surprise lifts rate cut bets
By Fergal Smith TORONTO (Reuters) - The Canadian dollar weakened to a three-month low against its U.S. counterpart on Tuesday as cooler-than-expected domestic inflation data bolstered expectations of the Bank of Canada beginning to cut interest rates in the coming months. The loonie was trading 0.5% lower at 1.36 to the U.S. dollar, or 73.53 U.S. cents, after touching its weakest intraday level
By Fergal Smith TORONTO (Reuters) - The Canadian dollar weakened to a three-month low against its U.S. counterpart on Tuesday as cooler-than-expected domestic inflation data bolstered expectations of the Bank of Canada beginning to cut interest rates in the coming months. The loonie was trading 0.5% lower at 1.36 to the U.S. dollar, or 73.53 U.S. cents, after touching its weakest intraday level
