The Canadian dollar dipped against a broadly stronger greenback on Friday, reversing from an earlier one-week high, after the release of domestic jobs data that was not firm enough to raise bets for another Bank of Canada interest rate hike next month. The Canadian economy added 11,200 jobs in October on higher full-time hiring, and the unemployment rate fell to 5.8 percent, although wage growth was sluggish, Statistics Canada data indicated.
At 3:19 p.m. (1919 GMT), the Canadian dollar was trading 0.1 percent lower at 1.3102 to the greenback, or 76.32 US cents. The currency, which was unchanged for the week, touched its strongest intraday since October 25 at 1.3050, before the data. The loonie's modest decline on Friday came as a stronger-than-expected US jobs gain helped boost the greenback.
Canadian government bond prices were lower across a steeper yield curve in sympathy with US Treasuries. The two-year fell 2 Canadian cents to yield 2.35 percent and the 10-year declined 33 Canadian cents to yield 2.534 percent. Separate data showed that Canada's trade deficit in September shrank to C$416 million as imports fell at a faster pace than exports.
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