Canadian Dollar Steady Amid Mixed Signals on Fiscal Cliff
TORONTO--The Canadian dollar was little moved Thursday, as investors grappled for clarity on the status of negotiations to avert the so-called U.S. fiscal cliff.</br></br>U.S. lawmakers were offering distinctly different views how budget talks were going. House Speaker John Boehner (R., Ohio) said no "substantive progress" had been made, while Democrats said a deal could be reached before Christmas.</br></br>The U.S. dollar was at C$0.9930 late Thursday, from C$0.9921 late Wednesday, according to data provider CQG.</br></br>Investors worry that Congress won't be able to reach a budget deal to avoid the U.S. fiscal cliff, and that the series of tax increases and spending cuts slated to take effect on Jan. 1 will send the U.S. economy back into recession.</br></br>In economic data, the U.S. economy expanded at its fastest pace in nearly three years in the third quarter, but analysts voiced concerns about the details of that report. U.S. pending home sales were much stronger than expected, and the weekly number of new jobless claims decreased slightly more than expected.