Canadian Dollar Gains as Equities Strengthen

The Canadian dollar started the week on a positive note as a jump in equities and strengthening oil prices helped boost the loonie. Growing interest in a take-over of Canadian giant Potash Corp also worked in the currency’s favor.

“After last week, everyone sort of took a deep breath and is (trying to) reevalutate the situation. Maybe there seems to be a touch more optimism today,” said David Tulk, senior macro strategist at TD Securities.

Source: Reuters

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