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US Dollar Weakens Against The Loonie as US Job Figures Lower Expectations of A Rate Increase

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The US dollar weakened against the Canadian currency Friday afternoon after the US economy unexpectedly lost 23,000 jobs in July, dimming expectations of an interest rate increase.

The US dollar edged down 0.5% to C$1.3938 on last look.

US Gold futures for December jumped 2.3% to $4,400 per ounce, the highest level since mid-June, boosted by the lower expectation of a US interest rate hike.

West Texas Intermediate September futures rose 1% to $78.09 per barrel, while Brent crude futures for October delivery rose 1.1% to $83.42 per barrel.

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