Canadian dollar dips after Bank of Canada decision

Thu Jun 4, 2009 9:19am EDT
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TORONTO, June 4 (Reuters) - The Canadian dollar dipped against the U.S. currency on Thursday after the Bank of Canada kept rates unchanged, as expected, but acknowledged the economic threat posed by the recent sharp appreciation of the Canadian dollar.

The unit fell to around C$1.1075 to the U.S. dollar, or 90.29 U.S. cents, from C$1.1052, or 90.48 U.S. cents, before the announcement.

The central bank made no mention in its statement of unconventional monetary easing, such as printing money to buy securities, signaling it maintains the view that further stimulus is not required any time soon. [ID:nBAC000304]

(Reporting by Ka Yan Ng; Editing by Jeffrey Hodgson)