TORONTO, July 22 (Reuters) - Canada's dollar weakened against the U.S. currency on Friday after a June Canadian inflation reading came in surprisingly tame.
The currency slipped as low as C$0.9504 to the U.S. dollar, or $1.0522, down from around C$0.9465 to the U.S. dollar, or $1.0565, just prior to the data.
Canadian inflation eased to 3.1 percent in June from an eight-year high of 3.7 percent, still a notch above the central bank's target range but expected to ease further and relieve pressure to hike interest rates. [ID:nSCLMIE70D] (Reporting by Ka Yan Ng; Editing by Padraic Cassidy)
Our Standards: The Thomson Reuters Trust Principles.