Canada dlr hits 1-wk low vs US dlr after Canada jobs

Fri Aug 7, 2009 7:10am EDT
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LONDON Aug 7 (Reuters) - The Canadian dollar fell on Friday, hitting a one-week low against its U.S. counterpart after data showed a much bigger-than-expected fall in Canadian employment.

Canada posted net job losses in July of 44,500, about three times the losses expected, but the unemployment rate remained unchanged from June at 8.6 percent as fewer people participated in the labour market [ID:nOTT001673].

The Canada dollar fell, pushing the U.S. currency CAD=D4 up around 0.6 percent on the day to C$1.0851, its highest level in a week.

(Reporting by Naomi Tajitsu)