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TORONTO, Oct 25 - The Canadian dollar weakened to a seven-month low against its U.S. counterpart on Wednesday as investors raised bets that the Bank of Canada's tightening campaign is completed after the central bank's latest move to leave interest rates on hold.
"It was pretty much consensus that it would be this hawkish type hold because inflation has been stubborn to come down," said Tom O'Gorman, director of fixed income at Franklin Templeton Canada. Money markets see a 44% chance of another rate hike over the coming months, down from roughly 60% before the rate decision.
"Sagging risk sentiment into the afternoon" added to pressure on the Canadian currency, said Michael Goshko, senior market analyst at Convera Canada ULC.
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