Canadian Dollar Weakens Amid Rate Cuts and Rising Unemployment: September Economic Overview
In September, the Canadian dollar (CAD) weakened slightly against the US dollar (USD), with the USD/CAD rate rising from 1.3496 to 1.3510. The Bank of Canada (BoC) cut its key policy rate by 25 basis points to 4.25%, marking three consecutive cuts. Despite this, the CAD was the worst-performing non-USD G10 currency.