Joined Nov 11, 2007
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The Loonie Hits a Two month High Against the Greenback

“Canada’s dollar strengthened versus its U.S. counterpart as speculation the Federal Reserveand Chinese government will take steps to boost economic growth spurred demand for higher-risk assets.

The currency was headed for a second straight weekly gain on speculation the Bank of Canada will be the first among Group of Seven counterparts to raise interest rates. Stock-index futures rose and crude oil climbed above $91 a barrel. Statistics Canada will report today that wholesale sales rose 0.2 percent in May, according to the median of 16 forecasts compiled by Bloomberg.”

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