BLBG: Canadian Currency Advances for Second Day as Greenback Falls
Canada’s dollar rose for a second day as stocks advanced and crude oil traded above $50, damping appetite for the U.S. dollar.
The Canadian dollar “has reverted to following broad U.S. dollar direction,” Adam Cole, London-based global head of currency strategy at RBC Capital Markets Inc., wrote in a note.
The Canadian currency climbed 0.4 percent to C$1.2181 per U.S. dollar at 7:55 a.m. in Toronto. It touched C$1.2154, the strongest level since April 20. One Canadian dollar buys 82.09 U.S. cents.
The U.S. dollar dropped against all but two of the 16 most- traded currencies tracked by Bloomberg, the exceptions being the British pound and Brazil’s real.
