Political & General

Canadian dollar hit by rejection of economic update, which Reuters reports first

Canadian dollar hit by rejection of economic update, which Reuters reports first

Reuters had a massive 45-minute beat on Nov. 27 with news confirming that all three Canadian opposition parties would vote against the minority government’s autumn economic update, indicating the ruling Conservatives were in deep political trouble. Two of the three parties quickly made clear they would oppose the update, leaving the decision on what to do in the hands of the Bloc Quebecois, which had often backed the government. Reuters tracked down a senior Bloc official who told him the party would vote against this time. The unexpected news helped push down the Canadian dollar. Ljunggren`s story was unmatched by rival agencies, who had to wait 45 minutes before Bloc leader Gilles Duceppe confirmed the news in Parliament.


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