BLBG: Canadian Dollar Rises With Stock Futures as U.S. Currency Falls
Canada’s currency gained as its U.S. counterpart declined against most major currencies and stock- index futures climbed.
The Canadian dollar strengthened 0.6 percent to C$1.1596 per U.S. dollar at 8:01 a.m. in Toronto, from C$1.1669 yesterday. One Canadian dollar buys 86.23 U.S. cents.
Canada’s currency will weaken to C$1.22 against the U.S. dollar by year-end, according to the median forecast in a Bloomberg survey of 39 economists.
Futures on the Standard & Poor’s 500 Index expiring in June added 0.3 percent. The Canadian dollar, which trades as a risk proxy, tends to rise and fall with stocks and commodity prices.
