Canada's Dollar Little Changed as Report Shows U.S. New Home Sales Fell

(Bloomberg) -- The Canadian dollar was little
changed after U.S. statistics showed declines in new home sales
for May.

The government housing data may raise speculation the
Federal Reserve will cut interest rates this year, boosting the
allure of Canada's currency relative to the U.S. dollar. The
Canadian dollar's advance was capped on concern that slowing
U.S. growth may hurt Canada's exports. About 80 percent of
Canadian shipments go to the U.S.


Read more at Bloomberg Currencies News