The Canadian dollar ended sharply lower on Friday, suffering another day of deep losses, as oil prices spiralled lower. The currency didn’t derive sustained support from unexpectedly robust data on gross domestic product for the third quarter early in the session. The U.S. dollar was recently at C$1.1429, up from C$1.1332 at Thursday’s close, according to data provider CQG. The Canadian dollar initially advanced after news that Canada’s GDP grew 2.8% in the third quarter, much more than the expected 2.1% and the Bank of Canada’s previous forecast of 2.3%. The Canadian currency drove the U.S. dollar to C$1.1366 immediately after the data, but it was unable to hold onto gains, as crude-oil prices continued the decline after Thursday’s OPEC’s decision not to reduce production targets. The early about-face and subsequent losses by the Canadian dollar proved a little puzzling to some market participants and a […]