By Chris Fournier March 3 (Bloomberg) -- Canada’s currency advanced for a fourth day, the longest consecutive gains in more than two months, as higher crude oil and gold burnished the appeal of currencies tied to growth. The currency touched a more than one-month high after the Central Bank dropped a phrase that slow inflation is a threat in the statement from yesterday’s policy meeting, prompting speculation interest rates may rise sooner rather than later. The loonie has gained 2.8 percent in the past month versus the greenback for the second-best performance after Brazil’s real among its 16 most-traded counterparts. The Canadian dollar “is just consolidating its gains before another move in its favor,” said Firas Askari, head currency trader in Toronto at Bank of Montreal, Canada’s fourth- largest lender. He predicted the currency would “test” the C$1.0250 to C$1.0285 area. The Canadian dollar rose 0.2 percent to C$1.0338 per U.S. dollar at 7:59 a.m. in Toronto, from C$1.0356 yesterday. One Canadian dollar buys 96.73 U.S. cents. --Editor: Dave Liedtka To contact the reporter on this story: Chris Fournier in Montreal at cfournier3@bloomberg.net To contact the editor responsible for this story: Dave Liedtka at dliedtka@bloomberg.net Related Articles

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