- The end of last week brought good news for the Canadian dollar as it traded at a two-week high against its U.S counterpart on Friday. Demand for the ‘loonie’ was boosted due to higher-than-expected inflation data coming out from Canada on Friday. The official statistics stated that Canadian core consumer price inflation rose 0.5% last month. Expectations had been for a 0.2 percent gain following on from July’s 0.1 percent fall. However, this did not last for the whole of Friday as the Canadian dollar weakened against the US dollar later in the day.
- Friday also saw the Kenyan shilling make its first five-day advance against the US dollar thus ending more than six years of weekly losses for the shilling.
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