C$ near 1-week high as trade deficit shrinks

TORONTO: The Canadian dollar strengthened to a near one-week high against its US counterpart on Wednesday as the greenback broadly fell and domestic data showed a narrower-than-expected trade deficit.

Canada's trade deficit in April shrank to a six-month low of C$1.90 billion from C$3.93 billion in March, as exports climbed to a record high and imports dropped, Statistics Canada said. The shortfall was considerably less than the C$3.40 billion deficit forecast by analysts.