(RTTNews) - The Canadian dollar has been extending its uptrend against most major currencies early European deals on Monday. At 5:05 am ET, the loonie reached near a 2-month high of 0.9257 against the aussie, a new multi-year high of 1.3557 against the euro and 20-1/2 -month high of 1.0055 against the US dollar.
As of now, the loonie is worth 0.9255 against the aussie, 1.0054 per greenback and 1.3556 versus the euro.
The Canadian currency rose as oil price jumped above $85 a barrel today as investors were cheered by an upbeat US employment data.
On Friday, the U.S. Labor Department report showed that non-farm payroll employment increased by 162,000 jobs in March following a revised decrease of 14,000 jobs in February. Economists had expected employment to increase by about 184,000 jobs compared to the loss of 36,000 jobs originally reported for the previous month.
While the increase in employment fell short of economist estimates, it still marked the fastest pace of job growth since March of 2007.
