(Bloomberg) -- The Canadian dollar reached the highest in seven months, bolstered by a weakening U.S. dollar and increasing prices for commodities, which account for 54 percent of exports.
The currency was the strongest since Sept. 29 against the U.S. dollar after a U.S. government report showed new home sales rose less than economists expected last month, raising speculation the Federal Reserve may cut borrowing costs in the third quarter. The report also dropped the U.S. dollar to a record low against the euro.
Read more at Bloomberg Currencies News
Subscribe to:
Post Comments (Atom)
No comments:
Post a Comment