By Chris Fournier Jan. 12 (Bloomberg) -- Canada’s dollar fell the most in almost two weeks after a report showed the nation unexpectedly posted a trade deficit in November, spurring speculation the economic recovery may not be as robust as investors hoped. Canada’s currency depreciated against 12 of its 16 most- traded counterparts, falling the most against the yen. The November deficit was C$344 million ($333 million), compared with a median forecast for a C$500 million surplus in a Bloomberg survey of economists. The report “should pressure the Canadian dollar,” said Michael Leavitt, a Montreal-based institutional-derivatives broker at MF Global Canada Co. “We’re seeing the day lows versus the U.S. dollar already.” The Canadian currency, nicknamed the loonie, depreciated 0.6 percent, the most on an intraday basis since Dec. 30, to C$1.0397 per U.S. dollar at 8:57 a.m. in Toronto, from C$1.0335 yesterday, when it reached C$1.0253, the strongest since Oct. 15. One Canadian dollar buys 96.18 U.S. cents. To contact the reporter on this story: Chris Fournier in Montreal at cfournier3@bloomberg.net

Source