The Canadian dollar – AKA the “loonie” – traded at 97.23 cents per U.S. dollar at 7:57 a.m. in Toronto, compared with 97.32 cents on March 11. The loonie touched 96.69 cents on March 9, the strongest level since November 2007.
Ã¢â‚¬Å“The Canadian dollar is still benefiting from the strong fundamentals in Canada,Ã¢â‚¬Â said Lee Hardman, a currency strategist at Bank of Tokyo-Mitsubishi UFJ Ltd. in London. Ã¢â‚¬Å“They have strong growth and a sound fiscal position. Even in times where thereÃ¢â‚¬â„¢s more heightened risk aversion, the Canadian dollar tends to outperform.Ã¢â‚¬Â
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