The Canadian dollar fell to 4-1/2-year low on Friday versus its U.S. counterpart after the release of Canada's monthly GDP data. The loonie plunged after a report showing that Canada's growth cooled down to 0.2 percent in November from 0.3 percent in October. On the year, the expansion pace also eased to 2.6 percent from 2.7 percent. The USDCAD pair is currently trading around 1.1206 after touching a peak of 1.1223, where the pair is set for its fourth straight weekly gain. The U.S. dollar index, which tracks the dollar's movements versus a basket of major currencies, rose for a second session to 81.30 after visiting a bottom of 81.07. It seems that the impact of the Fed's stimulus withdrawal is taking effect by empowering the dollar, yet worries from emerging economies enhanced haven demand on the yen. The USDJPY fell to a low of 102.09 from the session's high of 102.92. The euro is set of a weekly decline versus the U.S. dollar as the unexpected drop in euro area inflation add to worries prevailing this week. A report released today showed an unexpected fall in CPI for the year ended January to 0.7 percent, the lowest in four years from a prior of 0.8 percent. The pair is currently hovering around 1.3509 after hitting a high of 1.3571 and a low of 1.3494.
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