BLBG: Canadian Currency Gains for Second Day as Housing Starts Rise
Canada’s dollar appreciated for a second day against its U.S. counterpart as March housing starts increased more than forecast.
The Canadian currency rose 0.4 percent to C$1.2322 per U.S. dollar at 8:28 a.m. in Toronto, from C$1.2372 yesterday. One Canadian dollar buys 81.16 U.S. cents.
Housing starts rose last month to 154,700 units on an annualized basis on higher construction of multiple-unit buildings, Canada Mortgage and Housing Corp. said today in Ottawa. Economists anticipated the pace would slow to 130,000 units, according the median of 21 responses in a Bloomberg News survey of economists.
