FOREX-Canadian dlr skids to 4 1/2 year low, China PMI hits Aussie

Wed Jan 22, 2014 9:55pm EST
Email This Article |
Share This Article
  • Facebook
  • LinkedIn
  • Twitter
| Print This Article | Single Page
[-] Text [+]

* Canadian dollar slides as dovish BOC calls for lower currency

* Soft China's manufacturing sector report hits Aussie's recovery attempt

* Pound jumps as falling unemployment brings rate hike closer

* Euro, yen in familiar ranges vs dollar

By Ian Chua and Hideyuki Sano

SYDNEY/TOKYO, Jan 23 (Reuters) - The Canadian dollar slid to 4 1/2-year lows on Thursday after the Bank of Canada said the currency's depreciation should help exports, while the Australian dollar weakened following a disappointing survey of Chinese manufacturers.

In contrast, sterling took off after a surprisingly big fall in the UK jobless rate prompted investors to price in an earlier start to rate hikes in Britain.

The loonie, as the Canadian dollar is known, fell to C$1.1139 per U.S. dollar, bringing its decline this year to nearly 5 percent and trading at its lowest level since July 2009.

The pound gained even more, jumping to its highest since mid-2009 at C$1.8450. Sterling was on a tear after data showed a UK unemployment fell to 7.1 percent, just a fraction above the 7 percent threshold level for the Bank of England to start considering raising rates.   Continued...