The Canadian dollar fell against its US counterpart and rose versus the Japanese yen ahead of today’s employment reports from Canada and the United States.
Economists predicted that today’s report will show that Canadian employment contracted by 4,200. Such expectations are negative for the loonie. Yet the signs that the major central banks will keep stimulus measures supported the Canadian currency to some degree.
USD/CAD rose from 1.0511 to 1.0530 as of 2:40 GMT today. Meanwhile, CAD/JPY advanced from 95.10 to 95.28.
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