Canada's Dollar Strengthens


Canada's dollar climbed for the second straight day amid a rise in the price of crude oil and ahead of Federal Reserve Chairman Ben S. Bernanke's testimony to Congress on the U.S. economy.

Crude oil gained ahead of a government report today that may show U.S. gasoline inventories dropped for a third week. Gold and copper rose. Commodities account for about half of Canada's exports.

The Canadian currency rose 0.3 percent to C$1.0185 per U.S. dollar at 8:36 a.m. in Toronto, from C$1.0213 yesterday. It touched C$1.0327 yesterday, its lowest since Jan. 22. One Canadian dollar buys 98.18 U.S. cents.


TradingEconomics.com, Bloomberg
4/2/2008 6:49:49 AM