March 5, 2019 / 7:58 AM / in 3 months

Canadian dollar at five-week low on rate expectations, politics

LONDON, March 5 (Reuters) - The Canadian dollar slipped to the lowest in more than five weeks on Tuesday on expectations the central bank was approaching a policy turning point and as concerns grew over a political scandal that has triggered cabinet resignations.

There was also news that China has cancelled major Canadian agribusiness Richardson International Ltd’s registration to ship canola to China.

The currency was down a quarter percent against the dollar at 0755 GMT after touching three-week lows on Monday. The Bank of Canada is expected to hold rates this week and many reckon it could be edging towards a cut later in the year.

Meanwhile two ministers have quit Prime Minister Justin Trudeau’s cabinet over the government’s response to allegations that officials inappropriately pressured former Justice Minister Jody Wilson-Raybould last year to help construction company SNC-Lavalin Group Inc avoid a corruption trial (Reporting by Sujata Rao; Editing by Tom Finn)

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