C$ retreats to March lows on weak trade data

Tue Jul 7, 2015 8:49am EDT
 
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TORONTO, July 7 (Reuters) - The Canadian dollar tumbled on Tuesday to its weakest level since the end of March against the greenback, following data that showed Canada posted a larger-than-expected trade deficit in May.

The C$3.34 billion deficit in May was Canada's second-biggest on record and the eighth monthly deficit in a row as exports declined 0.6 percent and imports rose 0.2 percent.

The Canadian dollar touched C1.2758 against the U.S. dollar, or 78.38 U.S. cents, softer than immediately before the data was released and sharply weaker than the Bank of Canada's finish of C$1.2652, or 79.04 U.S. cents on Monday. (Reporting by Solarina Ho; Editing by Chizu Nomiyama)