CANADIAN DOLLAR NOTCHES NEARLY FOUR - WEEK HIGH ON BOC RATE HIKE BETS

What happened: The Canadian dollar held most of its gains against the US dollar as hawkish comments from Bank of Canada Governor Tiff Macklem overshadowed domestic inflation data, while investors awaited an Alberta referendum. Key numbers: Loonie up 0.3% at 1.4095 per US dollar, strongest intraday level Why it matters: Macklem said the BoC expects to raise its quarterly inflation forecast significantly this month on high crude and petroleum prices, shifting rate hike expectations sharply. Analysts said the currency market would welcome an emphatic rejection of separation by Alberta voters.

The Canadian dollar held most of its gains against the US dollar as hawkish comments from Bank of Canada Governor Tiff Macklem overshadowed domestic inflation data, while investors awaited an Alberta referendum.

Macklem said the BoC expects to raise its quarterly inflation forecast significantly this month on high crude and petroleum prices, shifting rate hike expectations sharply. Analysts said the currency market would welcome an emphatic rejection of separation by Alberta voters.