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Forex - Canadian dollar firms after strong retail sales data.
(From AFX Europe (Focus))
LONDON (AFX) - The Canadian dollar was firmer after data released this afternoon showed retail sales rose well above expectations in July, raising hopes of a further Bank of Canada interest rate hike by the end of the year.
At 3.57 pm GMT, the US dollar was trading at 1.1199 against the Canadian dollar, down from 1.1236 before the data were released, and just above a day low of 1.1189 cad.
Data showed retail sales in the country rose by 1.5 pct in July from June, nearly twice the market consensus for a rise of 0.8 pct.
"Canadian retail sales prompted a fresh bout of cad buying ... as market players …
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