Canadian dollar shoots up a cent after weak U.S. jobs report

Image Courtesy of Jonathan Hayward/The Canadian Press

Image Courtesy of Jonathan Hayward/The Canadian Press

By CBC News, June 3, 2016 

Weaker-than-expected U.S. job creation in May makes Fed rate increase in June less likely

The Canadian dollar was trading more than a full cent higher against the U.S. greenback Friday after a weaker-than-expected U.S. jobs report.

At 9:49 a.m. ET, the loonie was up 1.01 cents at 77.32 cents US.

According to Bloomberg, the loonie hit an intraday high of 77.43 cents US shortly after the release of employment figures that showed U.S. job creation in April hit its lowest mark in more than five years.

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