Canadian Dollar Approaches Two-Month High Against Euro

With investors backing away from the euro, the Canadian dollar is one of the currencies seeing the most gain and has advanced to a two- month high versus the euro. The loonie rose 0.7 percent to C$1.3431 per euro at 8:14 a.m. in New York, from C$1.3523 on Nov. 26 and traded at C$1.0205 per U.S. dollar after advancing earlier today to C$1.0148.

“Europe is a very key focus in the market right now,” said Blake Jespersen, director of foreign exchange at Bank of Montreal in Toronto. “The Canadian dollar has done very well in the last few weeks against the euro.”

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