The Canadian dollar increased against 14 of the 16 most- active currencies and has strengthened 1.7 percent so far this month.
The Canadian currency rose 0.4 percent to C$1.0055 per U.S. dollar at 9:54 a.m. in Toronto, from C$1.0092 on July 11. It touched C$1.0044, the strongest since June 3. One Canadian dollar buys 99.45 U.S. cents.
The loonie, as the currency is known because of the image of the bird on the one-dollar coin, has traded near parity with its U.S. counterpart this year. It touched a 2008 low of C$1.0379 on Jan. 22, and a high of 97.12 cents per U.S. dollar on Feb. 28.
The Bank of Canada will leave borrowing costs unchanged at 3 percent tomorrow, according to the median estimate of 21 economists in a Bloomberg News survey.