Canada’s Currency Strengthens Against U.S. Dollar

Bank of Canada’s (BOC) interest rate hike has strengthened the Canadian dollar against the US greenback, making the loonie the only G10 currency to keep pace with the U.S. dollar

The Canadian dollar is expected to maintain this pace on the back of high commodity prices which bolster Canada’s economic outlook.

Canada’s currency has strengthened against the U.S. dollar to trade at 79.11 U.S. cents, indicative of 1.60% within a month.

Canada’s currency has currently gained 0.11% within 24 hours against the dollar.