However, the loonie pecked away at losses to the world's reserve currency. The jobless rate in the U.S. sank as a result of job creation in July, but the amount of jobs created fell short of predictions.
"All of a sudden it became 'maybe the U.S. economy, which is Canada's biggest export partner, is not as strong as we thought, and how is that really going to impact Canadian growth?'" fixed-income strategies director Adrian Miller with GMP Securities LLC in New York told the news outlet on Friday." That does not bode well for Canadian exports."
The Canadian dollar dropped toward its two-week low against the greenback early during trading on Friday.
The U.S. Labor Department stated the economy grew by 162,000 jobs last month, according to The Canadian Press. That figure falls short of the 183,000 that were projected by economists and analysts.
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