0946 GMT - The Canadian dollar falls to its lowest level against the U.S. dollar in more than four years amid political turmoil in Canada after the finance minister quit. Canada's inflation data on Tuesday came in slightly lower than expected but the Canadian dollar's fall looks driven by political risks being priced into the currency, Monex Europe analysts say in a note. This leaves the Canadian dollar "more vulnerable than usual" ahead of the Federal Reserve's interest rate decision at 1900 GMT with USD/CAD at risk of rising further, they say. Monex expects the Fed to signal it will cut rates by less than previously anticipated. USD/CAD rises to 1.4333, its highest level since March 2020, according to FactSet. (renae.dyer@wsj.com)
(END) Dow Jones Newswires
December 18, 2024 04:46 ET (09:46 GMT)
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