Canadian dollar falls on oil, rate uncertainty (at Reuters)

By John McCrank TORONTO (Reuters) - The Canadian dollar fell to its lowest close in two weeks against a rallying U.S. dollar on Wednesday, despite a report that showed inflation in Canada was higher than the market had forecast, hurt by falling oil prices and an uncertain outlook for Canadian interest rates. Bond prices ended mostly lower, taking direction from the larger U.S. market. The Canadian currency closed at C$1.0103 to the U.S. dollar, or 98.98 U.S. cents, down from C$1.0084 to the U.S. dollar, or 99.17 U.S. cents, at Tuesday's close. The currency has slid 1 percent since Monday, hurt by soft economic data and falling oil prices. Retail sales data on Tuesday showed domestic spending in Canada was starting to sink. Domestic demand had been helping keep the economy afloat as other sectors of the economy were engulfed... [read full story]