The U.S. dollar early Friday pared previous losses against the Canadian dollar following a report on inflation in Canada for August that came in weaker than expected. Canada’s headline consumer-price index showed a rise of 1.4% on an annualized basis, compared with consensus expectations of 1.5%, according to average estimates of economists polled by FactSet. Core inflation, which strips out more volatile components, stood at 0.86% on annualized basis in August, versus expectations of 1.5%. One dollar bought C$1.2304 after the report, versus an intraday low of C$1.2260.
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