Canadian dollar headed for the biggest weekly loss in a month against the dollar as investors speculated the central bank will not raise interest rates until late next year and crude oil, the mainstay of country's exports, fell.
The Canadian dollar as Canada's currency is nicknamed, has declined 0.5 percent in the last five days. Bank of Canada Governor, Mark Carney, kept the benchmark interest rates steady at 1 percent on 07 December for the second consecutive meeting, highlighting the threats to economic recovery.
"The statement of the Bank of Canada this week will be a drag on the currency, because there is absolutely nothing out there...