Loonie depreciates as GDP growth fails to reach forecast

Source: Bloomberg
© Scanpix/FP
The Canadian Dollar dropped after the nations released disappointing economic data on GDP growth in May, boosting speculation that the Bank of Canada will not stop monetary stimulus anytime soon. The loonie declined 0.27% to C$1.0333 per U.S. Dollar as of 8:31 a.m. Toronto time. Canada's economy expanded 0.2% in May, while analysts expected a 0.3% increase.

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