“The Canadian dollar reached the strongest level in three weeks against its U.S. counterpart before a U.S. report forecast to show inflation is contained.
The currency was poised for its first five-day gain in six weeks before Labor Department data that is projected to show American inflation rose 1.9 percent in the past year, giving the Federal Reserve scope to maintain asset purchases that devalue the U.S. dollar. Since the Canadian dollar touched its lowest point in eight months versus the greenback on March 1 it has strengthened after data March 8 showed both the U.S. and Canada created more jobs than estimated in February….
…The loonie, as the Canadian dollar is known for the image of the aquatic bird on the C$1 coin, rose 0.2 percent to C$1.0202 per U.S. dollar at 7:59 a.m. in Toronto, reaching the strongest level since Feb. 22. One loonie buys 98.02 U.S. cents.”
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