BS: Canada’s Dollar Trades at Almost Six-Week High as Stocks Gain
By Chris Fournier
March 5 (Bloomberg) -- Canada’s dollar traded at almost the highest level since January and headed for a weekly advance as global stocks rose before the U.S. Labor Department released its nonfarm payrolls report.
The Canadian currency was little changed at C$1.0314 per U.S. dollar at 7:41 a.m. in Toronto, compared with C$1.0317 yesterday, when it appreciated to C$1.0271, the strongest level since Jan. 19. One Canadian dollar buys 96.94 U.S. cents.
Canada’s dollar, nicknamed the loonie for the image of the aquatic bird on the C$1 coin, has gained 1.9 percent this week in the second-best performance against the greenback among its 16 most-traded counterparts, trailing South Africa’s rand.
--Editors: Dennis Fitzgerald, Greg Storey
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
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