THE DAVISVILLE / LEASIDE INSIDER
Monday, April 4, 2011
Canada Dollar Gains to Strongest Since 2007 on Recovery Outlook
Canada’s dollar rose to a three-year high versus its U.S. counterpart and approached the strongest level since 1950 as speculation the global economic recovery is quickening fueled investor appetite for higher-yielding assets.
The currency had the biggest weekly gain since November as U.S. employers added more jobs in March than forecast and Chinese manufacturing accelerated. Oil and gold gained, and the Canadian dollar strengthened the most versus the yen during a week since 2009. Canada’s employers added jobs for a sixth month, a report next week may show.
By Alexandra Harris - Apr 2, 2011 12:00 AM ET
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