Canadian dollar gains as CPI data crimps July rate cut prospects
By Fergal Smith TORONTO (Reuters) - The Canadian dollar edged higher against its U.S. counterpart on Tuesday as domestic data showed inflation heating up in May, raising doubt the Bank of Canada would move to cut interest rates further as soon as next month. The loonie was trading 0.1% higher at 1.3645 per U.S. dollar, or 73.29 U.S. cents, after trading in a range of 1.3632 to 1.3680. Canada's
By Fergal Smith TORONTO (Reuters) - The Canadian dollar edged higher against its U.S. counterpart on Tuesday as domestic data showed inflation heating up in May, raising doubt the Bank of Canada would move to cut interest rates further as soon as next month. The loonie was trading 0.1% higher at 1.3645 per U.S. dollar, or 73.29 U.S. cents, after trading in a range of 1.3632 to 1.3680. Canada's
