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- EU focus: Euro falls; Lonnie weakens
EU focus: Euro falls; Lonnie weakens
The euro gets down ahead of EU summit. Earlier rate rose after Germany and France reached an agreement on addressing Greece’s debt crisis.
Canada’s dollar weakens today too after it rose yesterday to the highest since May 2.
The rate was earlier supported after Bank of Canada Governor Mark Carney adjusted wording in a statement to suggest interest rate increases will happen as early as September.
In its Monetary Policy report the central bank said inflation will average 2.8% between July and September and slow to 1.9% in the second quarter of next year . The so-called core rate, which excludes energy and food prices, will peak at 2.1% in the first quarter of 2012.
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