The Canadian dollar edged higher against its U.S. counterpart on Thursday but the currency was still down sharply in August as a slowdown in China's economy pressured commodity-linked currencies.
The loonie was trading 0.1% higher at 1.3515 to the greenback, or 73.99 U.S. cents, after moving in a range of 1.3505 to 1.3557. For the month, the currency lost 2.4%, its biggest monthly decline since February.
Other commodity-linked currencies include the Norwegian crown , as well as the Australian and New Zealand dollarscontracted for a fifth straight month in August, an official factory survey showed, fuelling concerns about weakness in the world's second-biggest economy. Canada's second-quarter GDP report, due on Friday, is likely to show a sharp slowdown in economic growth, a Reuters poll of economists showed, which could lead the Bank of Canada to pause its interest rate hikes despite recent hotter inflation data.Canadian central bank
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