Loonie Jumps on Weak US Employment News

The Canadian dollar climbed against the greenback on Thursday after data showed a sharp drop in U.S. weekly jobless claims and the price of new homes in Canada rose in May for the third straight month.

The Canadian dollar hit a session high of C$1.0422 to the U.S. dollar, or 95.95 U.S. cents after the data, up from Wednesday’s finish at C$1.0478 to the U.S. dollar, or 95.44 U.S. cents.

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