Canadian Dollar Falls for Third Week on Gas Price Impact
The Canadian dollar fell to 1.3810 per U.S. dollar as higher gas prices pressured retail volumes. March sales rose 0.9 percent while underlying demand weakened.
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Canada's dollar fell 0.4% this week to 1.3810 against the United States dollar, marking its third consecutive weekly decline. The USD/CAD reached its weakest intraday level since April 13 after data showed retail growth primarily driven by higher gasoline prices. Investors are reassessing interest rate paths as energy costs squeeze consumers while core spending volumes declined 0.7%.
